The Japanese government added Seven & i Holdings Co. to a list of “core” designated companies, a potential hurdle for Alimentation Couche-Tard Inc.’s proposal to buy out the convenience-store operator.
Last month, the Japanese retailer filed for the new designation under the Foreign Exchange and Foreign Trade Act to change its “non-core” status under the law, people with knowledge of the matter said. The new category requires any foreign entity to give prior notification of share purchases in a core company of more than 10%.
