KKR Mulls Unloading Supermarket Operator Seiyu

Tokyo, Jan. 7 (Jiji Press)--U.S. investment fund KKR is considering selling its stake in Japanese supermarket operator Seiyu Co., it was learned Tuesday.

Japanese retail giant Aeon Co. and Pan Pacific International Holdings Corp., which operates Don Quijote discount stores, are among those said to be interested in acquiring Seiyu shares.

The envisaged sale could be worth hundreds of billions of yen. KKR aims to complete the sale as soon as possible.

The move comes as domestic supermarket operators are facing an increasingly severe management environment due to intensifying competition.

Among them, Seven & i Holdings Co. is in the process of selling an intermediate holding company that oversees Ito-Yokado Co., the group's founding business, and other noncore operations.

[Copyright The Jiji Press, Ltd.]