TOKYO -- Fortress Investment Group, a SoftBank Group-affiliated investment fund, has obtained the first refusal right in the acquisition of struggling department store unit Sogo & Seibu, owned by Seven & i Holdings, Nikkei has learned.
Business deals
SoftBank-backed fund advances to buy Sogo & Seibu from Seven & i
Fortress Investment in talks with Yodobashi to revamp struggling department stores
Sources say Fortress has offered more than $1.47 billion to buy department store unit Sogo & Seibu.
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