Deals
Seven & i $60 Billion Management Buyout to Include US Assets IPO
- Sale of US operations to ease financing for take-private plan
- Operator of 7-Eleven stores to effectively split in three
The ¥9 trillion ($60 billion) proposed management buyout of Seven & i Holdings Co. is set to include plans for an initial public offering of its North American convenience stores and gasoline stations business to ease financing concerns, people with knowledge of the matter said.
As the founding Ito family races to formalize a proposal to counter a rival ¥7.1 trillion offer by Alimentation Couche-Tard Inc., the listing of the operations is being considered as the optimal way to quickly pay down loans that would be extended by three of Japan’s biggest banks in the buyout, the people said.