TOKYO -- The Japanese retail group behind 7-Eleven has decided to sell off part of its stake in Tokyo-based home decor chain Francfranc so it can concentrate on its mainstay convenience stores.
The move represents a change for Seven & i Holdings, which has never divested shares of a group company since embarking on a diversification strategy in the 2000s. Potential buyers include Tokyo-based investment funds Integral and the Japan Growth Investments Alliance, with the transaction expected to be completed as soon as July.
