Seven & i Holdings has introduced that it has accomplished the sale of Sogo and Seibu malls below its umbrella to the US funding fund Fortress Investment Group.
At the time of the sale, we anticipate to file a rare lack of roughly 145.7 billion yen for Seven & i on a non-consolidated foundation as a result of abandonment of a part of the mortgage to Sogo and Seibu.
The Sogo and Seibu labor unions, who had been against the sale as a consequence of issues about employment, went on strike for the primary time in about 60 years at a serious division retailer on the thirty first, however the sale was accomplished with the negotiations in parallel. .