Japanese Retailer Seven & i Mulling Management Buyout

Tokyo, Nov. 13 (Jiji Press)--Japanese retail giant Seven & i Holdings Co. is mulling a management buyout that may cost some 9 trillion yen, it was learned Wednesday.

Seven & i is considering measures to counter an acquisition proposal by Canadian convenience store operator Alimentation Couche-Tard Inc., including the option of making itself a private company.

Seven & i has already begun preparing for the possible management buyout with financial and other entities, sources said.

The Canadian company has proposed to buy Seven & i for 7 trillion yen. The value of the transaction being considered by Seven & i is expected to be bigger.

The management buyout, if realized, would be the largest such deal in Japan, far surpassing the 710-billion-yen buyout of Taisho Pharmaceutical Holdings Co.

[Copyright The Jiji Press, Ltd.]