TOKYO -- U.S.-based Fortress Investment Group will sell assets from Sogo & Seibu for nearly 300 billion yen ($2.06 billion) after acquiring the Japanese department store operator, Nikkei has learned, planning to use the money to pay back loans taken out for the purchase.
Japanese retailer Seven & i Holdings announced Thursday that it will sell Sogo & Seibu to the investment fund. Loft, a Sogo & Seibu unit that sells household items, will not be included in the deal.
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