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7-Eleven parent to sell Sogo & Seibu department store business

Seven & i Holdings eyes breakup deal under U.S. activist pressure

Seven &i's Seibu & Sogo department store unit has struggled to deal with the growing popularity of online shopping. Activist investors say this has hurt the parent's share value. (Source photo by Nikkei)

TOKYO -- Japanese retailer Seven & i Holdings is in final negotiations to sell its struggling department store unit, Sogo & Seibu, Nikkei has learned, to focus on expanding its overseas convenience store business.

The operator of the 7-Eleven chain of convenience stores has begun talks to sell its department store unit, according to sources familiar with the matter. Several investment funds and companies are expected to be among the potential buyers.

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