The operator of the 7-Eleven convenience store chain has asked the Canadian firm that's pursuing a buyout to sell thousands of its outlets in America to clear US antitrust hurdles.



Japan's Seven & i Holdings made the announcement on Monday amid negotiations with Alimentation Couche-Tard.



Seven & i says it proposed the preconditions for agreeing to any acquisition by the Canadian operator.



These include Couche-Tard selling all its outlets in the US, or an agreement to sell at least 2,000, which accounts for around 30 percent of the total there, to a third-party.



Seven & i says it has already reached a settlement with Couche-Tard on proceeding with the selection of the outlets to be sold, as well as potential buyers.



Seven & i plans to thoroughly review Couche-Tard's response before deciding whether to accept the Canadian firm's buyout.



The two companies have been in discussions over the acquisition bid, which is worth 7 trillion yen or more than 47 billion dollars.



Seven & i has pointed out that a merger of the top two convenience store operators in the US would face considerable antitrust scrutiny from Washington.



The company plans to hold a news conference in Tokyo on Thursday.