Seven & i founding family sounded out KKR, others about buyout, Nikkei says By Reuters

TOKYO (Reuters) – The founding household of Japan’s Seven & i Holdings has approached KKR & Co (NYSE:) and different funding companies about taking part within the potential buyout of the retailer, the newspaper reported on Saturday.

Along with KKR, the founding Ito household additionally approached Bain Capital and Apollo World Administration (NYSE:) as a result of view it will likely be tough to safe adequate capital from banks, the Nikkei reported.

Funding for the proposed buyout will likely be finalised by the top of December and can contain Japan’s three largest lenders, Reuters reported on Wednesday.

Seven has acquired a buyout proposal from the founding household whereas beneath stress to persuade traders it might probably improve worth by itself and fend off a $47-billion takeover bid from Canada’s Alimentation Couche-Tard.