Japan's Seven & i to sell department store unit, Nikkei reports

This post was originally published on this site

Investment funds and companies are expected to be among the potential bidders with negotiations on price to begin this month, Nikkei reported without citing sources.

A spokesperson for Seven & i, which operates Japan’s leading convenience store chain 7-Eleven, said nothing had been decided.

U.S.-based investment firm ValueAct Capital had urged the retailer to consider alternative strategies including the sale of divisions to boost its lagging share price.