Private Equity Giants Compete for Seven & i Holdings’ Non-Core Assets
Key Points KKR and Bain Capital submitted first-round bids exceeding $5 billion for Seven & i’s non-core assets. Bain’s bid of 1.2 trillion yen topped KKR’s 800 billion yen offer. Seven & i’s founding family is pursuing a management buyout to counter a $47 billion bid by Alimentation Couche-Tard. The final bid is expected by February, and the decision will be finalized in spring. The privatization of Seven & i could be Japan’s largest deal. Private equity firms KKR and...