Palantir a high-risk investment with ’a one-of-a-kind growth and margin model’
Investing.com -- Japan’s Seven & i Holdings is in talks to sell a portion of its stake in Seven Bank to trading firm Itochu. The announcement of the potential deal is expected to be made as early as May 30, according to a report by Nikkei business on Tuesday.
Following the report, Seven Bank’s shares experienced an increase of 9.5%.
The initial discussions between Seven & i and Itochu will revolve around the transfer of approximately 10% stake in Seven Bank. This stake, valued at approximately 30 billion yen ($208 million), is held by supermarket operators Ito-Yokado and York Benimaru, both part of the Seven & i group.
The move is part of Seven & i’s strategy to concentrate on its primary convenience store operations. This decision comes amidst a takeover proposal from Canada’s Alimentation Couche-Tard.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.