TOKYO, Oct 10 — The Japanese owner of 7-Eleven announced plans today to focus on its core business, in a move seen as fending off a takeover bid by Canada’s Alimentation...
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Creating the new unit would allow Seven & i Holdings to rejuvenate 7-Eleven, the world’s biggest convenience store chain with more than 85,000 outlets worldwide, a quarter of them in Japan. The firm “resolved at the management meeting held today to establish an intermediate holding company... that will preside over the Company’s supermarket food business, specialty store and other businesses”, a statement said.
The new holding company will include 31 businesses, such as supermarket chains Ito-Yokado, York-Benimaru and baby goods shop Akachan Honpo.
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