Seven & I in talks over the sale of its supermarket business
Japan’s Seven & I Holdings has approached private equity funds and other parties about a potential sale of its Ito-Yokado stores and supermarkets, Bloomberg News reported, citing people familiar with the matter.
Based on earnings multiples, the sale value could reach US$2.19 billion, Bloomberg said, citing one of the sources.
That follows a report on Thursday that Seven & I is considering selling part of its Seven Bank unit.
A Seven & I spokesperson, responding to the report, said: “It is not something officially announced by our company, and we do not comment on market rumours.”
Last month, the parent company of the 7-Eleven convenience store chain rejected a $38.5 billion offer from Canada’s Alimentation Couche-Tard that would have been the largest corporate foreign buyout of a Japanese company.
Seven & I has been under pressure from activist investor ValueAct Capital in recent years to improve its asset allocation and has sold down stakes in other lower-performing assets.
The company said in April it was considering a listing of its superstore business, which mainly comprises supermarkets, as part of a plan to maximise corporate value.
Inside Retail Asia
Related news
Coca-Cola explores sale of Costa Coffee, source says
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >7-Eleven to open 1,300 stores in North America
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >7-Eleven is preparing its strategic expansion into Europe
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >Related news
Dr Zoltán Pogátsa on the Hungarian economy: neither the golden age, nor an apocalypse
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >Eurozone GDP grew by 0.1 percent in the second quarter compared to the previous quarter
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >KSH: industrial production decreased by 1.0 percent compared to the same period of the previous year, expanded by 2.0 percent compared to the previous month
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >