Żabka Shares Surge 15 percent on Seven & I Investment Talks
Shares in Polish convenience store operator Żabka Group (#ZAB) jumped more than 15.5 percent by 1 PM on Thursday after Nikkei reported that Seven & I Holdings, the owner of 7-Eleven, is in talks to invest several hundred billion yen in the company.
Reuters and Bloomberg later confirmed the report, saying Seven & I is in the final stages of negotiations to acquire a stake — likely in the double digits — from existing investment funds.
The deal would give the Japanese retail giant a faster route into Europe, where its expansion has lagged behind the US and Japan.
Żabka operates around 10,000 franchised stores across Poland.
Seven & I has faced pressure from investors to focus on its core convenience business after last year’s sale of its supermarket unit to Bain Capital.
