The founding Ito family behind Japanese retailer Seven & i aims to raise more than 8 trillion yen (€49 billion) to take it private by the end of this financial year, Japanese public broadcaster NHK reported.
The family has established a special purpose company that is in talks with Japan's three largest lenders and major US financial institutions to raise funds to take the 7-Eleven owner private.
A spokesperson for Seven & i could not be reached for comment outside normal business hours in Tokyo.
Seven & i has been under pressure to convince investors it can enhance value on its own and fend off a $47-billion (€44.4 billion) takeover bid from Canada's Alimentation Couche-Tard.
It said last week it had received a buyout proposal from the founding Ito family.
Management Buyout Offer
Going private would allow it to continue under current management and remove pressure from shareholders to sell off more of its assets – as well as eliminate the threat from a bidder that it may see as hostile. A management buyout offer could also be a tactic to force Couche-Tard to bid more.
The company's shares ended little changed on Tuesday, but have climbed by more than 50% to record highs since August as takeover speculation swirled.
In October, the company announced a roadmap to hive off underperforming businesses and focus on its convenience store operations.
Seven & i said it will bundle some of its vast network of non-core assets into a holding company for which it will bring in strategic investors.
The parent company also plans to rename itself '7-Eleven Corp' to emphasise the focus on its profitable convenience stores.
