Circle K Parent wants to buy 7-eleven, offering this much money!

Jakarta –

Circle K’s parent company, Aliation Couche-Tard (ACT), which came from Canada, made an offer worth US$ 38 billion or approximately Rp. 588 trillion (Rp. 15,488) to acquire 7-Eleven. If completed, this transaction will set a record for the largest acquisition of a foreign company in Japan.

ACT reportedly made the move on Monday (19/8), the news emerged after Japan’s stock market collapsed in early August. However, the 5.6 trillion yen offer was valued at just one-fifth higher than 7-Eleven’s pre-offer price on the Japanese stock market.

ACT said it had submitted a ‘friendly and non-binding’ proposal to buy the retail chain. However, the company said that there was no guarantee that the transaction could be carried out.

“The company is focused on reaching mutual agreements that benefit customers, employees, franchisees and company shareholders,” ACT said, quoted from BBCWednesday (20/8/2024).

At the same time Seven & i Holding, which owns 7-Eleven, said that the company had opened a special committee to discuss the offer. They admitted that they had received a confidential, non-binding and provisional proposal from ACT to acquire all outstanding shares.

“The special committee intends to conduct a quick, careful and comprehensive review of the proposal,” said Seven & i Holdings.

However, if Circle K’s 7-Eleven parent acquisition goes ahead, the company could face challenges from North American competition watchers. Because the 7-Eleven chain operates more than 13,000 stores in the US and Canada, and Couche-Tard has more than 9,000 stores.

In recent years, it is known that several active investors have asked Seven & i Holding to sell some of their assets to focus the company on the 7-Eleven brand. The takeover bid also comes after Japan’s stock market slumped to record lows and then rose to record highs following the central bank’s decision to raise borrowing costs.

7-Eleven currently has 85,000 stores worldwide in 20 countries and regions and has a wide reach in Asia. Quebec-based ACT is listed on the Toronto Stock Exchange and operates approximately 17,000 stores in more than 30 countries and territories in North America, Europe and Asia under the Circle K brands. and Couche-Tard. The capitalization of ACT is expected to reach US$ 58.2 billion or Rp

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