TOKYO (Reuters) – The founding family of Seven & i is asking Thailand’s Charoen Pokphand (CP) Group to invest in a managed buyout of the Japanese retailing giant, NHK reported on Thursday.
The founding family is in talks to take Seven & i private through a management buyout to fend off a $47 billion takeover from Canada’s Alimentation Couche-Tard.
The investment would be in the order of hundreds of billions of yen, Japan’s national broadcaster said.
Seven & i declined to comment on the report. A representative for CP Group said they do not comment on speculation.
(Reporting by Rocky Swift, Satoshi Sugiyama, Chayut Setboonsarng; Editing by Jan Harvey)
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