Railway was delisted from the Tokyo Stock Exchange. A reorganization of the group, completed in February 2006, created Seibu Holdings to act as a holding company for both the railway and Prince Hotels. Cerberus Capital Management, an American investment fund, became the largest shareholder in Seibu Holdings with a 29.9% share of the new company. In late 2012 and early 2013, Cerberus proposed that Seibu Railway abolish five non-core lines, along with other restructuring measures throughout the Seibu Holdings group, but management refused to implement these changes. Cerberus then executed a tender offer to increase its stake to 35% as of June 2013, giving Cerberus the power to veto shareholder resolutions. Cerberus had aimed to raise its stake to 44%, bringing it closer to an outright majority, but Seibu management engaged in a massive campaign to thwart the tender offer, including advertising within Seibu trains to passengers who owned stock. The East Japan Railway Company and several financial institutions also planned a support scheme to keep Cerberus from acquiring control of Seibu, but it was ultimately not implemented due to a lack of potential financial benefit for the investors. At the June 2013 shareholder meeting, several proposals by Cerberus were voted down, including the election of outside directors and the abolition of non-core lines. , Yoshiaki Tsutsumi remains a major investor in Seibu Holdings through his 36% investment in NW Corporation, the second-largest shareholder in the company with a share of around 15%. Tsutsumi refused to respond to the Cerberus tender offer at the urging of Seibu management. Hotels The following list uses the English translations of the hotel names. The Prince Gallery The Prince Gallery Tokyo Kioicho (affiliated with Marriott International under The Luxury Collection brand) The Prince The Prince is the brand name for the most luxurious hotels by the company. The Prince Hakone: Hakone, Kanagawa The Prince Karuizawa: Karuizawa, Nagano The Prince Kyoto Takaragaike: Sakyō-ku, Kyoto (affiliated with Marriott International under Autograph Collection brand) The Prince Park Tower Tokyo: Minato, Tokyo The Prince Sakura Tower Tokyo: Minato, Tokyo (affiliated with Marriott International under Autograph Collection brand) The Prince Villa Karuizawa: Karuizawa, Nagano Grand Prince Hotels Grand Prince Hotels is the brand name for city hotels. Grand Prince Hotel Hiroshima: Minami-ku, Hiroshima Grand Prince Hotel New Takanawa: Minato, Tokyo Grand Prince Hotel Takanawa: Minato, Tokyo Prince Hotels (Japan) Furano Prince Hotel: Furano, Hokkaidō Hakodate Ōnuma Prince Hotel: Nanae,