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Investing.com -- The family that founded Seven & i, a Japanese retail giant, is reportedly in discussions with Thailand’s Charoen Pokphand (CP) Group to secure investment in a management buyout of Seven & i.
This action is being taken to counter a $47 billion takeover bid from Alimentation Couche-Tard, a Canadian company.
The founding family’s strategy is to take Seven & i private through this management buyout. The investment required from CP Group to achieve this would be in the hundreds of billions of yen, according to Japan’s national broadcaster NHK.
The exact amount has not been disclosed.
This move follows the recent takeover bid from Alimentation Couche-Tard, which has put the Japanese retail giant into the spotlight.
The founding family’s plan to go private is seen as a defensive strategy to maintain control over Seven & i.
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