Fortress won the right of first refusal in the acquisition of Sogo & Seibu, as investors pressure Seven & i to focus on its core convenience store business, Nikkei said.
Fortress Investment did not respond to a Reuters request for comment outside of US business hours. Seven & i could not be reached immediately.
US investment firm ValueAct, which has a 4.4% stake in Seven & i, had urged the Japanese retailer to sell Sogo & Seibu, saying in February the company could more than double its share price by focusing on its convenience stores.
In April, Seven & i said it would continue with reforms to its business portfolio and had engaged a financial adviser to conduct a strategic review of Sogo & Seibu.
Seven&i, the parent company of 7-Eleven convenience stores, is expected to have more detailed discussions with Fortress, including employment issues and the potential closure of some stores, according to the Nikkei report.
($1 = 135.1900 yen)