Shares of Seven & i Holdings jumped as high as 11 per cent after a media report that the founding family is looking to take the company private.
Japanese public broadcaster NHK reported that the founding Ito family plans to raise over ¥8 trillion (AUD $79 billion) this year and is in talks with US financial institutions and some of Japan’s largest lenders.
In a statement yesterday regarding the reports that it aims to raise funds for the buyout by the end of the year, Seven & i Holdings said it had not yet made a decision.
The company confirmed last week that it had received a buyout proposal from Junro Ito, Vice President and a representative director of the Company and Ito-Kogyo, a private company affiliated with Ito.
Earlier this year, the company rejected an AUD $72 billion takeover bid from Canadian convenience giant Alimentation Couche-Tard (ACT).
7-Eleven has 85,800 stores globally, employing over 157,177 employees, with a presence across Asia, North America, and other markets.
Shares in the company jumped as high as 11 per cent and finished the day up 6.52 per cent at 2,597 yen.
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