U.K. fund to keep Keisei stake even if Tokyo Disney sale rejected

LONDON -- U.K. hedge fund Palliser Capital will remain invested in Japan's Keisei Electric Railway even if shareholders vote down its proposal for the train company to pare its stake in Tokyo Disney Resort operator Oriental Land, the fund's founder told Nikkei.

Palliser, which owns less than 2% of Keisei, is calling for the company to reduce its interest in Oriental Land to less than 15% by the end of March 2026. It has argued that cashing in some of the shares would free up funds for growth in the tens of billions of yen (1 billion yen equals $6.3 million).