Seven & I Approaching Buyers for Retail, Supermarkets Units

Seven & i Holdings Co. has approached potential buyers for its Ito-Yokado stores and supermarkets as it seeks to restructure in the face of a takeover approach from Canada’s Alimentation Couche-Tard Inc., people with knowledge of the matter said.

The Japanese retailer has approached private equity funds and other entities about the sale of multiple businesses under its supermarket empire, said the people, who asked not to be identified because the discussions aren’t public. Based on a multiple of six to eight times earnings before interest, taxes, depreciation and amortization, the sale could fetch ¥320 billion to ¥430 billion ($2.2 billion to $2.9 billion), one of the people said.