Seven & i Considers Supermarket Stake Sale, Amid $47 Billion Couche-Tard Bid

Oct 9, 2024, 01:11 AM

Seven & i Holdings, the Japanese owner of 7-Eleven, is considering selling a stake in its supermarket unit ahead of a planned IPO. This move is part of a broader strategy to streamline operations and enhance value growth. The decision comes after rejecting a takeover offer from Alimentation Couche-Tard. Couche-Tard has since raised its offer to $47 billion, valuing the shares at ¥7 trillion, a 20% premium over the previous bid. This revised bid has led to a 10% increase in Seven & i's shares. The company is also looking to bolster its takeover defenses by selling non-core assets. Seven & i CEO Ryuichi Isaka will make his first public appearance since the revised offer. Additionally, Quebec’s public pension manager has indicated it will likely provide financial backing to Couche-Tard if the takeover proceeds.