The US activist investor Daniel Loeb has bought a stake in a Japanese retailer Seven & I Holdings. Though the details about stake and valuation are not revealed, Loeb-run hedge fund Third Point is believed to have acquired stake below five percent. After the sale, the Japanese retailer is expected to take up restructuring exercise enhance profitability, reducing underperforming merchandise stores. Seven & I Holdings operates over 18,000 outlets under the brand 7-Eleven across Japan. Seven & I has decided to shut about 40 unprofitable Ito Yodado stores in the next five years.
Seven & I Holdings
Breaking News
Subscribe to VCpost newsletter
Most Popular
- SSDI Payment April 2024: Who Will Receive Social Security Benefits Today?
- Tesla Spends $200,000 in Promoting Elon Musk's Social Media Platform X Following Mention of 'Minimal Advertising Efforts'
- Australian Farmer Prepares Grave of 3,000 Sheep After Failing to Find Buyer
- Where's My Child Tax Credit 2024: When to Receive My Money After April 15 Tax Filing Deadline?
- Brazilian Woman Wheels Her Dead Uncle Into the Bank to Withdraw Loan in His Name
- Elon Musk's SpaceX Working With Northrop Grumman on Secret Spy Satellite Project for US Intelligence: Report
- Michigan Family Sues Wendy's for $20 Million After 11-Year-Old Girl Suffered Deadly E.Coli Infection
- Innocent Female Uber Driver, 61, Shot Dead by 81-Year-Old Ohio Man Who Was Targeted by Scammers
