ValueAct Capital Asks Seven & i to Set Up Committee, Focus on Convenience Stores
25 Enero 2022 - 7:18PM
Noticias Dow Jones
By Kosaku Narioka
ValueAct Capital LP has asked Seven & i Holdings Co.'s board
to set up a strategic review committee of outside directors so that
it can focus on 7-Eleven convenience-store operations.
The San Francisco-based investment company said Wednesday that
Seven & i lacked strategic focus and is performing below its
potential. ValueAct said the committee should review alternatives
for the holdings of each business unit, as well as the company
overall.
ValueAct said Seven & i could become a global champion if it
focuses on the convenience-store business.
Seven & i runs supermarkets, department stores and specialty
stores in addition to convenience stores.
ValueAct said it wanted the strategic review committee to issue
a report by the end of April.
ValueAct holds an about 4.4% stake in Seven & i and has
engaged with the company since 2020, it said.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
January 25, 2022 20:03 ET (01:03 GMT)
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