TOKYO, Sept 17 (Reuters) - Finance Minister Shunichi
Suzuki said on Tuesday that Japanese retail giant Seven & i
Holdings' ( SVNDF ) new status as a company "core" to national
security would not raise additional hurdles to a potential
buyout.
Seven & i ( SVNDF ), the owner of 7-Eleven convenience stores which
recently rejected a $38.5 billion buyout offer from Canada's
Alimentation Couche-Tard ( ANCTF ), was among 88 companies newly
added to the list last week.
When a company is categorised as core, foreign entities
seeking to buy a stake of 1% or more in a Japanese firm must in
principle file for a national security review with the Japanese
government prior to the purchase.
In cases where control is sought, however, Suzuki said prior
notification for a review is mandatory "regardless of whether
they are categorised as core or non-core."
"We can't say the core classification makes a buyout more
difficult," he added.