06:29 AM EST, 01/10/2025 (MT Newswires) -- Apollo Global Management ( APO ) is considering a taking a significant stake in Japanese convenience store operator Seven & i as its founding owners are looking to take the company private, Bloomberg News reported Friday, citing unnamed sources familiar with the matter.

Sources told Bloomberg that Apollo is in talks for a commitment of up to 1.5 trillion Japanese yen ($9.49 billion) and other partners are still negotiating their own stakes. According to the report, the current proposal for the transaction values the combined stakes at about 4 trillion yen, down from the initially planned 9 trillion yen.

Bloomberg said the proposal remains subject to change and Mitsubishi UFJ Financial Group ( MUFG ) is also set to participate in the transaction.

Apollo Global Management ( APO ) and Seven & i did not immediately respond to MT Newswires' requests for comments.

In September, Seven & i rejected a takeover offer from Canada's Alimentation Couche-Tard ( ANCTF ) .

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)