Deals
Seven & I Gets New Designation, a Potential Buyout Hurdle
- 7-Eleven operator has pushed back against Couche-Tard approach
- Government category adds extra steps for any investor
Customers exit a 7-Eleven convenience store, operated by Seven & i in Kobe, Japan.
Photographer: Soichiro Koriyama/BloombergThis article is for subscribers only.
The Japanese government added Seven & i Holdings Co. to a list of “core” designated companies, a potential hurdle for Alimentation Couche-Tard Inc.’s proposal to buy out the convenience-store operator.
Last month, the Japanese retailer filed for the new designation under the Foreign Exchange and Foreign Trade Act to change its “non-core” status under the law, people with knowledge of the matter said. The new category requires any foreign entity to give prior notification of share purchases in a core company of more than 10%.