Seven & i delays listing of North America business
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A general view of the tobacco section of a 7-Eleven store at Manhattan, in New York City, U.S., October 1, 2024. REUTERS/Jessica DiNapoli
TOKYO, April 9 (Reuters) - Seven & i Holdings said on Thursday it has pushed back the timing of the listing of its North American operations to the financial year starting April 2027 or later, rather than in the second half of 2026.
* The decision reflected heightened market uncertainty andthe difficulty of predicting the impact on personal consumption,a spokesperson for the Japanese convenience store operator said. * Seven & i, which operates the 7-Eleven chain, reiteratedits plan to buy back about 2 trillion yen ($12.59 billion) worthof shares by fiscal 2030, including 600 billion yen alreadycompleted in the financial year ended March 2025. * News of the delay was first reported by the Nikkeibusiness daily shortly before the close of trading on Thursday,sending Seven & i shares down 4.6%. * Last year, Seven & i was the target of a $46 billion bidby Canada's Alimentation Couche-Tard. * The bid was withdrawn after Couche-Tard said the retailerhad refused to engage constructively on a deal that would havebeen Japan's largest-ever foreign buyout.($1 = 158.8300 yen)
(Reporting by Ritsuko Shimizu and Daniel Leussink; Editing by Christopher Cushing and Himani Sarkar)
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