TOKYO — Japan's Seven & i Holdings plans to seek buyers for a majority stake in its supermarket businesses, including its flagship Ito-Yokado, with the process to begin as early as the end of this year, Nikkei business daily reported on Friday.
TOKYO — Japan's Seven & i Holdings plans to seek buyers for a majority stake in its supermarket businesses, including its flagship Ito-Yokado, with the process to begin as early as the end of this year, Nikkei business daily reported on Friday.The retail chain wants to sell the businesses to overseas investment funds, among other possible buyers, the Nikkei reported without mentioning sources. It may disclose the plan at an earnings announcement on October 10, the newspaper said.
'Earlier on Friday, Bloomberg News reported that Seven & i Holdings has approached private equity funds and other parties about a potential sale of Ito-Yokado and supermarkets, citing people familiar with the matter.Based on earnings multiples, the sale value could reach 320 billion yen , Bloomberg said, citing one of the sources. That follows a report on Thursday that Seven & i was considering selling part of its Seven Bank unit.
To Sell Retail Supermarket Units
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