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☆ Meet 5 of the buyers eying 7-Eleven and its sister businesses
▼ + stars: | 2024-12-26 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

Seven & i also received a $47 billion offer from Alimentation Couche-Tard. Some of the world's biggest private equity companies have joined the race to own pieces of 7-Eleven's parent company. Private equity firms typically buy companies or subsidiaries they see as struggling and work to make them profitable before selling them as a whole or in parts after a couple of years. Rival convenience storeBesides the three buyout firms, the 7-Eleven parent also received a $47 billion takeover offer from Canadian multinational convenience store chain Alimentation Couche-Tard. Unlike the private equity firms, Couche-Tard appears to want to buy the whole company, including the 7-Eleven stores.

Persons: Ito, Yokado, Tard, Junro Ito, Masatoshi Ito Organizations: KKR, Bain Capital, Alimentation, Holdings, Reuters, Japan Industrial Partners, Bank, York Holdings, Seven, Master Trust Bank of Japan, Bloomberg Locations: Japan

But an Associated Press analysis of nearly 70 years of similar cases showed Trump’s case stands apart: It’s the only big business found that was threatened with a shutdown without a showing of obvious victims and major losses. “This sets a horrible precedent,” said Adam Leitman Bailey, a New York real estate lawyer who once sued a Trump condo building. But AP’s review of nearly 150 cases reported in legal databases found that in the dozen cases calling for “dissolution,” victims and losses were key factors. The New York attorney general who filed the lawsuit, Letitia James, said that helped the ex-president receive lower interest rates. In fact, the bank made its own estimates of Trump’s personal wealth, at times lopping billions from Trump’s figures, and still decided to lend to him.

Persons: — Donald Trump, “, ”, Adam Leitman Bailey, Arthur Engoron, Trump, Letitia James, Banks, Eric Talley, GENERAL’S, James, Engoron, William Thomas, Donald Trump Organizations: New, Trump, AP, TRUMP New York, Deutsche Bank, Columbia University, Trump’s New, University of Michigan Locations: New York, Trump’s New York, York, Lago, Florida, Chicago

“This is a basically a death penalty for a business,” said Columbia University law professor Eric Talley. Bank officials called to testify couldn’t say for sure if Trump’s personal statement of worth had any impact on the rates. His nonprofit Trump Foundation agreed to shut down in 2018 over allegations he misused funds for political and business interests. The Deutsche unit making the Trump business loans wasn’t the typical lending unit, but its private wealth division. A POTENTIAL COMPROMISETo be sure, the attorney general’s office has argued that there are larger issues than victim losses at play in Trump's case.

Persons: Donald Trump, “, ”, Eric Talley, it’s, Adam Leitman Bailey, William Thomas, Trump, that’s, Arthur Engoron, Engoron, Letitia James, Said, Kevin Wallace, ” Engoron, Jan, Gambino, Mar, Deutsche, ” Trump, Wallace, Jerry H, Goldfeder, University of Michigan’s Thomas, ” ___, Michael R, Jennifer Peltz, David Caruso, Rhonda Shafner Organizations: Associated Press, Columbia University, Deutsche Bank, Trump, Bank, University of Michigan, Republican, Democratic New, New York, LexisNexis, AP, Trump Foundation, Trump University, Deutsche, ”, Fordham University, University of Michigan’s Locations: Trump’s, New York, Democratic New York, York, Lago, Florida, Chicago, Miami , Los Angeles, Scotland, New, Manhattan, Sisak, Investigative@ap.org

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