CPALL, the Thai subsidiary of Charoen Pokphand Group operating 7-Eleven stores in Thailand, has responded to reports regarding a potential investment in a management buyout of Japan's Seven & i Holdings.
The company stated that while it is among the entities approached for investment, no decisions have been finalized.
CPALL's Chief Financial Officer, Kriengchai Boonpoapichart, emphasized the company's commitment to prudent investment strategies, prioritizing the interests of the company, shareholders, and stakeholders.
This statement follows reports that the founding family of Seven & i Holdings is seeking investment from CP Group to counter a takeover bid by Canadian retailer Alimentation Couche-Tard, which has offered over 7 trillion yen (approximately 47 billion US dollars).
The proposed management buyout is estimated at around 9 trillion yen (58 billion US dollars), potentially marking the largest in Japan's history.
CPALL's shares experienced a decline following these reports, closing at 52.00 baht, down 7.96% from the previous close, with a total trading value of 9,707.75 million baht.