
Japanese family Ito, to which owns holding Seven & I, which part is 7-Eleven, wants to use the capital of the American fund Apollo Global Management and the owner of its Japanese familyMart, to prevent the potential takeover by Canadian power Couche-Tard.
The need 55 million euros. What further from 7-Eleven
Apollo Global Management has expressed willingness to make a contribution of 1.5 billion yen (9,1 billion euros), when Itochu of Familymart would invest over a billion yen (6 billion euros). The sum needed for the complete buyout is estimated at 9 billion yen (55 billion euro) and are supported by the biggest Japanese banks – reports retaildetail.eu for “The Japan Times”.
This strategic position is a response to not arousing enthusiasm offer by Canadian company Couche-Tard from last year, which caused serious concern in Seven & I. The Management assesses today both proposals and notes, that many details require further clarification. At the same time Seven & I are working on a
restructuring plan to separate profitable activities in the range of multi-branch stores from weaker
segments retail.
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Largest franchise network is feeling the effects of inflation
As wrote earlier, the family It was also considering the option of management buyout. Such a move would enable the group to continue operating under the current management and remove the pressure related to sell unprofitable assets. Some analysts have also suggested that this may be a strategy to force a higher offer from ACT.
In the lastquarterprofitoperating Seven&andHoldingsdroppedbyonequarter,notmeetinganalysts’forecasts.Asexplainsthe company,inflationhasaffectedconsumerspendinginJapanandNorth America.
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