7-Eleven Parent's shares surge amid report of Apollo’s interest
Date
1/11/2025 4:01:55 AM
(MENAFN) Shares of Seven & i Holdings, the parent company of 7-Eleven, jumped over seven percent on Friday following reports that US investment firm Apollo Global Management is considering a USD9.5 billion equity stake in the company, the world’s largest convenience store operator.
Last year, Seven & i declined a nearly USD40 billion Acquisition bid from Alimentation Couche-Tard, the parent company of Circle K. Reports indicated that the Canadian firm later increased its offer by 20 percent.
In November, Seven & i announced it was evaluating a counter-proposal from the founding Ito family, valued at approximately eight trillion yen (USD50 billion).
According to Bloomberg News, Apollo Global Management is considering an investment of up to 1.5 trillion yen in the Ito family’s bid. The Ito family is reportedly planning to commit around 500 billion yen, while Itochu Corp, the owner of FamilyMart, is expected to contribute over one trillion yen.
Negotiations with other potential investors are ongoing, and the remainder of the funding is expected to come from Japan’s leading banks, the report added, citing unnamed sources familiar with the discussions.
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