Japan’s Seven & I Holdings, the parent company of the 7-Eleven convenience store, has appointed a new CEO and plans to sell billions of assets while trying to postpone a takeover offer of a Canadian rival.
Thursday, seven & I appointed its chairman of the board of directors, Stephen Dacus, as a new president and chief executive. Dacus, the former Walmart chief in Japan, will succeed Ryuichi Isaka in May. Dacus, who is fluent in Japanese, is the first non -Japanese CEO of and i.
Seven & I said Thursday that it planned to sell non -practical stores, including supermarkets and other retail stores, in Bain Capital for $ 5.4 billion. The transaction should end in September.
The company also said that it provided for a first public offer of actions in North America 7-Eleven Operations At the end of 2026. This company, based in Irving, Texas, operated and frankly operates and frankly in the United States and Canada.
Seven and I said he would use the product IPO and Capital Bath Sale to finance share buybacks.
“We are traveling to explore opportunities that create the most value for our shareholders and improve the experiences of our customers in the world,” Isaka said in a statement. “It’s a good time to advance these initiatives.”
The Seven & I action course jumped 6.1% in Tokyo.
Restructuring follows seven and I rejection of a buyout offer By feeding Canada Couche-Tard, which has circle K and other convenience chains. Dacus said earlier that the offer had undervalued the potential for the convenience stores and failed to fully respond to American regulatory concerns.
The 7-Eleven Holdings of the company include 86,000 stores in the United States, Japan and other Asian countries. Contrary to The 7-Elevens of the American continent, stores in Japan are known for their variety of food and have replaced many mom and pop stores. Seven & I says that 22 million people visit its 22,800 7-Elevens in Japan every day.
Last year, seven & I announced a restructuring plan to strengthen its American operations and rationalize operations, which included the closure of certain Ito-Yokado supermarkets in Japan.
In 2022, Seven & I sold its department stores Sogo & Seibu in Japan in Fortress Investment Group, an American fund, for $ 1.5 billion. He said he also planned to reduce his share in Seven Bank