7-Eleven's parent company has signed a confidentiality agreement with ACT, a major Canadian retail giant, which may help in resolving antitrust issues.

Seven&i Holdings Co., the parent company of the 7-Eleven convenience store chain, has signed a confidentiality agreement with Alimentation Couche-Tard Inc. (ACT), a Canadian retailer, allowing the two companies to discuss resolving antitrust concerns that have stalled the acquisition, Seven&i said on Wednesday.

The confidentiality agreement will pave the way for discussions around antitrust issues in the US, a key point of contention in the acquisition talks, the company said.

Earlier, a management buyout led by the Ito family, founders of the company, to keep the retailer in Japanese hands failed, putting pressure on the company to work with ACT, which first made a bid in August.

The Japanese company has also signed confidentiality agreements with potential buyers, but the negotiations are limited to the divestment of its stores in the US, not the entire business of Seven&i, a spokesman said.

Earlier this month, Seven&i appointed Stephen Dacus as its new chief executive to overhaul the company's business. Since then, it has agreed to sell its supermarket and retail businesses for $5.4bn and announced a $20bn stock buyback.