Seven & i likely to sell non-core business shares to Bain for $4.7 billion, Bloomberg says

TOKYO :Seven & i Holdings is likely to sell most of its non-core business holding company shares to Bain Capital for more than 700 billion yen ($4.69 billion), Bloomberg News reported on Wednesday citing people familiar with the matter.

The deal is likely to be decided at the board meeting to be held on Thursday, the report said.

Local media reported last month that Seven & i, operator of the 7-Eleven convenience store chain, had picked Bain as its preferred buyer for a stake of its York Holdings, an entity that the retailer plans to spin off. ($1 = 149.1700 yen)