TOKYO (Reuters) – Apollo Global Management is considering investing as much as 1.5 trillion yen ($9.5 billion) in a management buyout of Japan’s Seven & i Holdings, Bloomberg News said on Friday, citing several people with knowledge of the matter.
Under the plan, Seven & i’s founding family will invest 500 billion yen in equity, trading company Itochu Corp will invest over 1 trillion yen in equity, and Apollo up to 1.5 trillion yen in preferred shares, according to the report.
In an interview with Reuters, Apollo declined to comment on whether it is engaged with parties for a Seven & i deal.
($1 = 158.2300 yen)
(Reporting by Rocky Swift; Editing by Tom Hogue)
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