Seven & i mulls US$58bil management buyout

Changes ahead: A woman walks out of a 7-Eleven store in central Tokyo. The Japanese owner of 7-Eleven is considering going private by buying back its own shares in a bid to avoid a takeover attempt by Canadian rival Alimentation Couche-Tard. — AFP

TOKYO: Seven & i Holdings Co is considering a management buyout to take itself private with funding from banks, Itochu Corp and the founding Ito family, in a transaction that could be worth around nine trillion yen (US$58bil), people with knowledge of the matter say.

The deal could be presented as an option for shareholders in the event that Alimentation Couche-Tard Inc becomes more aggressive with its pursuit of Seven & i and makes a tender offer, the people said, asking not to be identified because the negotiations haven’t been made public.