TOKYO: Japan’s Seven &, i Holdings, operator of the 7-Eleven convenience store chain, has picked Bain Capital as its preferred buyer for a stake of its non-core assets, local media reported on Saturday ( Feb 22 ).
Since late last year, Bain has been bidding for a significant interest in York Holdings, an object the merchant plans to roll out, against rival private equity firm KKR and regional buyout firm Japan Industrial Partners.
Bain is believed to have offered a valuation of more than 700 billion yen ( US$ 4.7 billion ) for York Holdings, the Nikkei newspaper and Jiji news agency reported. While Nikkei cited a man it chose to avoid naming, Jiji chose to use the location of the information.
Seven &, document, KKR, and Japan Industrial Partners could not be reached for comment on Saturday, and Bain said it was.
The store has attempted to divide York Holdings from its non-core operations, which include its mall operations. The organization that runs Denny’s eateries in Japan, Akachan Honpo, and the team’s superstores may be housed in the 31 companies.