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Seven & I Private Branded Coods Cocets in a 7-Eleven convenience store, operated by Seven & I Holdings Co., in Tokyo, Japan, on Thursday, January 18, 2024.
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Japan actions Seven & I Holdings It fell to 12.44% on Thursday after the company said the founding family had not secured the financing necessary to buy the operator of the convenience store.
This translates into a loss in market capitalization of approximately more than $ 5 billion.
Earlier on Thursday, the Yomuiri newspaper reported that Seven & I had abandoned the management plan of the Management, declared that it was worth more than 8 billion yen ($ 53.69 billion).
“They (the founding family) have not been able to ensure the financing required to present a definitive proposal to acquire 7 & i. As a result, there is no processable proposal of Mr. Junro Ito and Ito-Kogyo so that 7 YI consider at this time,” said the company, “said the company,” said the company, “said the company,” said the company, “he said,” he said In a presentation.
It’s Junro He is the vice president of Seven & I and the son of the late Masatoshi Ito, founder of Seven & i. Ito-Kogyo is a company affiliated with the vice president, and it is seven & i’s The second largest interested part with a 8.2%participation.
On Wednesday, Reuters reported that the commercial house Ittochu He had decided not to participate in the purchase. Ittoh had considered investing 1 billion yen in the agreement, but then retreated since there were few synergies between his food and drinking business and seven & i, Nikkei reported.
Local media in November reported that the founding family was associated with “three Japanese mega -bases and the main US financial institutions,” to launch the purchase.
Seven & I in 2024 rejected a purchase offer of the operator of the Canadian Food Coucha-tard convenience store. Couche-tard had initially made An offer of $ 14.86 per share to take care of Seven & I in August last year. The offer was rejected, with seven and I say it “Grossly undervalues” The company.
The company then As reported, raised Its offer in October for more than 22% to $ 18.19 per share, valuing Seven & I 7 billion Japanese yen, or around $ 47 billion.
Seven and said that “it is still committed To explore all the opportunities to unlock the value for shareholders and continue to evaluate a complete range of strategic alternatives, including the proposal of Food Couche-Tard, Inc. “
Correction: This story has been updated to reflect that Seven & I rejected the first supply of Couche-tard
