Japan's Seven & i mulls IPO of North American convenience store unit

Seven & I Holdings Co. is considering an initial public offering of its North American convenience store subsidiary to raise cash to support a management buyout proposed by its founding family, sources familiar with the matter said Saturday.The value of 7-Eleven Inc., a major profit-making division of the Japanese retailer, is estimated at around 4 trillion yen ($26 billion) to 5 trillion yen.Seven & i hopes to use the proceeds from the sale of the subsidiary's shares to help fund the management buyout, estimated at around 9 trillion yen.A member of the founding family proposed the buyout p…READ FULL ARTICLE