Seven & i Holdings (TYO:3382) will consolidate its food supermarket and specialty store businesses under a new entity, York Holdings Co. (York HD), as part of a restructuring set for February, according to a Thursday filing with the Tokyo Stock Exchange.
The plan involves share consolidations, dividends in kind, and company splits, covering 31 subsidiaries and affiliates under the SST Business group.
The move aligns with Seven & i's strategy to streamline operations and enhance shareholder value. The company plans to retain a stake in York HD while exploring an IPO for the SST Business Group, aiming to leverage synergies between its convenience store and SST divisions.
The restructuring will establish York HD as the parent company of the SST Group, with Seven & i maintaining a significant stake. The company framed the plan as a step towards optimizing operations and unlocking growth potential for the SST business.
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