Seven & i to scrap $58b management buyout after Itochu withdraws

Seven & i to scrap $58b management buyout after Itochu withdraws

FILE PHOTO: The logo of Seven & I Holdings is seen at its headquarters in Tokyo, Japan December 6, 2017. REUTERS/Toru Hanai/FIle photo

Japan’s Seven & i Holdings is set to abandon a $58 billion management buyout led by the retailer’s founding family after trading house Itochu withdrew from participating in the plan, the Yomiuri newspaper reported on Thursday.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter