TOKYO (Reuters) -U.S. private equity fund KKR is considering selling supermarket chain Seiyu in a deal that could worth several hundred billion yen (several billion dollars), the Nikkei business daily reported on Tuesday.
The bidding process for the sale of shares has begun, and major retailers including Aeon, Don Quijote owner Pan Pacific International Holdings and Trial Holdings, as well as an investment fund or funds have submitted bids, Nikkei said without citing sources.
KKR owns 85% of Seiyu and Walmart (NYSE:WMT) the remaining 15%. The Nikkei said Walmart’s stake was also likely to be sold, and that the final buyer would be decided by around February, the newspaper reported.
KKR, Aeon and Pan Pacific International declined to comment. Trial Holdings had no immediate comment when contacted by Reuters.