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Bloomberg
Convenience store operator 7-Eleven Malaysia Holdings Bhd is weighing exiting its pharmacy chain, according to people with knowledge of the matter.
The Kuala Lumpur-listed company is working with an adviser on the potential divestment of Caring Pharmacy Group Bhd, which is attracting interest from some Japanese parties, the people said.
The company could seek a valuation for the retailer of about $400 million in a deal, said one of the people, who asked not to be identified as the process is private.
Deliberations are ongoing and 7-Eleven Malaysia could decide not to proceed with the planned sale, said the people.
7-Eleven Malaysia and Berjaya Corp didn’t immediately respond to requests for comment by phone and email.
Founded in 1994 by five pharmacists, Caring sells pharmaceutical, healthcare and personal care products, according to its website.