TOKYO (Reuters) – U.S. private equity fund KKR is considering selling supermarket chain Seiyu in a deal that could be worth several hundred billion yen (several billion dollars), a business daily reported on Tuesday.
The bidding process for the share sale has begun, with major retailers including Don Quijote owner Aeon, Pan Pacific International Holdings and Trial Holdings, as well as an investment fund or funds submitting bids, the Nikkei said without citing sources.
KKR owns 85% of Seiyu, and Walmart (NYSE: ) the remaining 15%. Nikkei said Walmart’s stake is also likely to be sold, with a final buyer to be decided around February, the newspaper reported.
KKR declined to comment.
