Seven & i to Postpone Sogo & Seibu Sale to March
Tokyo, Jan. 24 (Jiji Press)--Japanese retail giant Seven & i Holdings Co. <3382> said Tuesday that it will postpone the sale of department store unit Sogo & Seibu Co. from Feb. 1 to March.
The move comes amid a stalemate in talks between Seven & i and U.S. fund Fortress Investment Group LLC, which is set to buy Sogo & Seibu, over the proposed opening of an outlet of major electronics retailer Yodobashi Camera in the Seibu Ikebukuro store in Tokyo's Toshima Ward, informed sources said.
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