Seven & i's founding family seeks CP Group investment for buyout
TOKYO (Reuters) - The founding family of Seven & i Holdings Co. Ltd. is in talks with Thailand's Charoen Pokphand (CP) Group to invest in a management-led buyout of the Japanese retail giant, NHK reported on Thursday.
The move comes as the founding family seeks to take Seven & i private to fend off a $47 billion takeover offer from Canada's Alimentation Couche-Tard Inc.
The investment from CP Group would be in the order of hundreds of billions of yen, NHK reported.
Seven & i declined to comment on the report, while a representative for CP Group said they do not comment on speculation.