IFB Holdings denies rumors of 7-Eleven dealIFB Holdings Limited on August 22 denied reports that the company is entering into a partnership with Japan’s 7-Eleven to launch a convenient store chain in Vietnam in 2018. Mr. Rachan (Butch) Reddy, the owner of IFB Holdings, told VET it is not associated with 7-Eleven in any way. Japan's Nikkei Asian Review reported that IFB Holdings, the owner of The Coffee Bean & Tea Leaf and Subway in Vietnam, is to become a partner of the 7-Eleven’s master franchisor in Vietnam, Seven System Vietnam Company. It was reported in the middle of last year that it had signed a master franchise agreement with Seven System Vietnam Company and plans to open some 1,000 outlets over the next decade. Seven System Vietnam Company is located in District 1, Ho Chi Minh City, according to its business registration.

Source: VietNamNet News August 23, 2016 05:37 UTC