7-Eleven's parent company is reportedly planning to reduce its stake in the supermarket department after rejecting ACT's acquisition of Canada's retail giant.

Japanese convenience store giant Seven & i Holdings is considering selling a stake in its supermarket division ahead of an IPO, according to two people familiar with the matter. It is unclear when or how much of the stake will be sold. The people said Seven & i is considering selling the stake to investors such as funds. The supermarket division includes Japan's most famous supermarket chain, Nissin Foods, according to the people.