Seven & I Holdings & Couch-Tard explore possible sales

Seven & I delivered an update on his discussions with couchentard in a letter to the shareholders on March 9. In the letter, the company found that a consistent threshold problem that it had raised from the beginning was to put together a sale package of 2,000 or more overlapping convenience stores that could be sold to a “viable, credible and independent buyer” that guarantees future competition between a buyer and a couch-harden.

In the letter signed by Paul Yonamine, chairman of the special committee for the assessment of an acquisition, and Meyumi Yamada, chairman Seven & i’s nomination committee, and I said “It takes time to reach a constructive engagement with couch-very.

“Until recently, however, the position of Act was that Seven & I should first sign a contract that should be acquired by ACT, and then either to step out overlapping shops or try to find a sale buyer only after the signing of a final agreement.

The alternatives of implementable paths that Sieben and I proposed to bring the couche-hard: included:

• Couche-Dard sells all US business, including Circle K brand locations, in a “clean sweep” that would bring us off the cartel risk. or
• Couch-Dard, which carried out a final sale agreement with a buyer of the 2,000 or more sales transactions as a precedent for the signing of a final fusion contract between Couch-Sard and Seven & I.

After the couchenard has agreed to investigate a sales process, Seven & I believe that it can make progress in finding whether a credible and implementable legal and sale package can be achieved, which enable a realistic evaluation of the proposal of couch-hard under the value areas and certainty of the degree.

The company pointed out the recent failed merger of Albertsons and Kroger food transactions as a warning for retailers who would like to sell thousands of locations without a market-checked buyer who is well positioned to preserve the competitive landscape.

“As a responsible administrator of the capital of our shareholders, we will not blindly enter into a transaction without being a clear way to close that our company could leave in a destructive value destructive floating for several years,” wrote Seven & I.

Seven & i-daughter 7-eleven Inc. works, franchise companies and/or licenses more than 13,000 shops in the USA and Canada. In addition to 7-eleven shops, and franchise-speedway, stripes, Laredo Taco Co. and increase the locations for chicken and cookies.

Couchen-base based in Laval-based in 31 countries and territories with more than 16,800 shops, of which around 13,000 fuel offers for road traffic. With its well-known couches and circle K banners, it is one of the largest independent convenience store operators in the USA and leader in convenience store industry and in road traffic factors in Canada, Scandinavia, Baltics, Belgium and Ireland.