Seven & i considers IPO for North American units- report

In a significant move, Seven & i Holdings Co. is contemplating an initial public offering (IPO) for its North American convenience stores and gasoline stations business, Bloomberg News reported.

This strategy is part of a proposed ¥9 trillion ($60 billion) management buyout and aims to address financing concerns. The Ito family, founders of the company, is working on finalizing this proposal to present an alternative to the ¥7.1 trillion offer from Alimentation Couche-Tard Inc.

The proposed IPO is expected to generate over ¥1 trillion in cash, contributing to the repayment of ¥6 trillion in loans from major Japanese banks. Sumitomo Mitsui Financial Group (NYSE:SMFG ) Inc., Mitsubishi UFJ (NYSE:MUFG ) Financial Group Inc., and Mizuho (NYSE:MFG ) Financial Group Inc., along with other financial institutions, are anticipated to provide the necessary loans for the buyout.

The capital raised from the IPO would offer reassurance to these lenders regarding the swift repayment of the borrowed funds.

By considering the listing of its operations, the Ito family, in collaboration with Itochu Corp. (TYO:8001 ), is aiming to persuade the board of Seven & i to endorse their buyout plan over the one proposed by Couche-Tard.

The report also added that Seven & i plans to maintain a stake in the North American business post-IPO, ensuring continued involvement in this segment of their operations.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Source: Investing.com

Publicații recente
Oklo target nearly doubled at Wedbush on AI-driven demand for nuclear energy
24.01.2025 - 18:00
Crypto markets lose steam after Trump's first policy move
24.01.2025 - 18:00
Combination of Google's TPU-DeepMind units may be worth $700 bn - DA Davidson
24.01.2025 - 18:00
British American Tobacco, Altria shares rise after menthol ban proposal dropped
24.01.2025 - 18:00
Morocco stocks higher at close of trade; Moroccan All Shares up 0.34%
24.01.2025 - 18:00
Commerzbank says no talks with UniCredit until specific proposal made
24.01.2025 - 18:00
Venture Global aims for $64 billion valuation at debut in test for energy IPOs
24.01.2025 - 18:00
Intuitive Machines stock surges on NASA contract award
24.01.2025 - 18:00
International Paper's $7.2 billion acquisition of DS Smith gets EU approval
24.01.2025 - 18:00
Short-term stock optimism soars among retail investors, AAII survey shows
24.01.2025 - 18:00
Venture Global shares likely to open up to 6% above IPO price
24.01.2025 - 18:00
Intuitive Surgical, American Express Stir Friday's Market Cap Stock Movers
24.01.2025 - 18:00
BMW joins Chinese EV makers in filing EU court challenge to tariffs
24.01.2025 - 18:00
Turkey stocks lower at close of trade; BIST 100 down 0.08%
24.01.2025 - 18:00
Diageo stock jumps on possible Guinness sale
24.01.2025 - 18:00

© Analytic DC. All Rights Reserved.

new
Analiza pieței Cum va afecta raportul NFP de mâine cursul de schimb al dolarului american?