Official press release from Seven & i Holdings or financial news outlets

Seven & i Holdings Considers $58 Billion Buyout to Go Private with Itochu, Ito Family Amid Expansion Plans

Nov 13, 2024, 02:47 AM

Seven & i Holdings, the parent company of 7-Eleven, is contemplating a management buyout valued at approximately $58 billion. This potential move aims to take the company private, with financial backing from banks, Itochu Corporation, and the founding Ito family. The decision comes amid market pressures and a desire to avoid foreign acquisition, particularly in light of aggressive interest from Couche-Tard. Concurrently, Seven Bank, which is partly owned by Seven & i, plans to expand its ATM network beyond 7-Eleven locations into other convenience stores, according to CEO Masaaki Matsuhashi. Additionally, Seven & i Holdings recently closed all eight of its convenience stores in Israel this summer.