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Investment funds and companies are expected to be among the potential bidders with negotiations on price to begin this month, Nikkei reported without citing sources.
Seven & I said in a statement on Tuesday that while it is considering changes to its business portfolio, including selling shares of Sogo & Seibu, nothing has been decided yet.
The company’s shares surged as much as 8.8% in early Tokyo trading.
U.S.-based investment firm ValueAct Capital had urged https://www.reuters.com/markets/deals/valueact-urges-seven-i-holdings-listen-consider-strategic-alternatives-2022-01-25 the retailer to consider alternative strategies including the sale of divisions to boost its lagging share price.
