KKR is considering selling Japanese Seiyu supermarket, Nikkei says by Reuters

TOKYO (Reuters) – U.S. private equity fund KKR is considering selling the Seiyu department store chain in a deal that could be worth several hundred billion yen (several billion dollars), the business daily reported on Tuesday.

The Nikkei said, without citing sources, that the bidding process to sell the shares had begun, and that major retailers, including Aon, Don Quijote owner Pan Pacific International Holdings, and Trail Holdings, as well as an investment fund or funds, had submitted offers.

KKR owns 85% of Seiyu and Walmart (NYSE:) and the remaining 15%. Walmart’s stake is also likely to be sold, and the final buyer will be determined by around February, the Nikkei reported.

KKR declined to comment.