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Japan's K Line surrounded by sales rumors

Within a year, an aggressive hedge fund has bought up a 37 percent ownership share of K Line, fueling rumors that the Japanese carrier will be next in line to be engulfed in the consolidation wave hitting the container sector.

Photo: APM Terminals

The aggressive share acquisition by Effissimo Capital Management, a Singapore-based hedge fund, in Japanese container carrier K Line (Kawasaki Kisen) has fueled speculation in Japan that the carrier could be the next in line for the consolidation wave spreading across the container industry.

Effissimo, which is established by the former colleagues of Japan's most renowned stockbroker, Yoshiaki Murakama, a specialist in hostile takeovers, has increased its stake in K Line to 37 percent in the beginning of early August from just six percent one year ago. The hedge fund now stands as the largest shareholder in K Line.

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