Quebec Pension Fund looks to back Couche-Tard in 7-Eleven acquisition: report
Yahoo Finance is reporting the Quebec Pension Fund will look to provide financial backing to Alimentation Couche-Tard Inc. in the company’s bid to take on Seven & i Holdings Co., parent company of the 7-Eleven, if the deal moves ahead.
According to the report, the head of liquid markets at Caisse de Depot et Placement du Quebec said that Couche-Tard “knows that we will always accompany them in these endeavors if necessary.
However, there is no dollar figure given to how much financial support the pension fund would put on the table.
Couche-Tard, which operates gas stations and Circle K convenience stores in North America, made a $39 billion offer to purchase Seven & i which the Japanese retailer turned it down.
READ: What does Seven & i's 'core' classification mean to Couche-Tard takeover efforts?
Since the turning down of that offer, Couche-Tard is said to have looked at ways to improve their offer while has looked at other potential buyers for its Ito-Yokado stores and supermarkets according to reports.
