US investment giant eyes $9.5 bn 7-Eleven stake: report
The Peninsula
Tokyo: Shares in 7 Eleven s parent rose more than seven percent on Friday after a report that US investment firm Apollo is eyeing a $9.5 billion stake...
Tokyo: Shares in 7-Eleven's parent rose more than seven percent on Friday after a report that US investment firm Apollo is eyeing a $9.5 billion stake in the owner of the world's biggest convenience store chain.
Japan's Seven & i last year rejected a takeover offer worth nearly $40 billion from Circle K parent Alimentation Couche-Tard, prompting the Canadian firm reportedly to sweeten its bid by 20 percent.
Seven & i then said in November that it was studying a counter-offer from the company's founding Ito family that reportedly was worth around eight trillion yen ($50 billion).
Bloomberg News reported on Friday that Apollo Global Management was considering taking an equity stake in that bid worth as much as 1.5 trillion yen.
The Ito family is weighing a commitment of around 500 billion yen and Itochu Corp, which owns the FamilyMart chain, more than one trillion yen, Bloomberg reported, quoting unnamed people familiar with the matter.
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