KKR and Bain each bid more than $5 bln for Seven & i assets, sources say

Private equity firms KKR and Bain Capital have each offered over $5 billion in first-round bids for the non-core assets of Japan’s Seven & i Holdings, with KKR offering around 800 billion yen and Bain offering around 1.2 trillion yen. Seven & i is looking to sell off non-core businesses, including its supermarket operations, while its founding family is in talks to take the company private to fend off a takeover offer from Canada’s Alimentation Couche-Tard. If successful, this would be the largest privatisation of a Japanese firm ever.

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