HomeBusinessJapan's Seven & i to sell department store unit, Nikkei reports

Japan’s Seven & i to sell department store unit, Nikkei reports

TOKYO : Japanese retailer Seven & i Holdings Co Ltd is in remaining negotiations to sell its department store unit, Sogo & Seibu, the Nikkei enterprise day by day reported on Monday, amid investor strain to give attention to its core comfort store enterprise.

Investment funds and corporations are anticipated to be among the many potential bidders with negotiations on value to start this month, Nikkei reported with out citing sources.

A spokesperson for Seven & i, which operates Japan’s main comfort store chain 7-Eleven, stated nothing had been determined.

U.S.-based funding agency ValueAct Capital had urged the retailer to contemplate various methods together with the sale of divisions to increase its lagging share value.

(Reporting by Sam Nussey and Sakura Murakami; Editing by Edmund Blair and Louise Heavens)

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