7-Eleven, Inc. and Sunoco LP have confirmed that the $3.3 billion deal that will see more than 1,000 gas stations change hands is going through by saying that they are jointly committed to closing the value-creating transaction. The companies believe the transaction to be in the latter stages of the regulatory approval process with the…
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7-Eleven to acquire Sunoco stores for $3.3 Billion
7-Eleven, a consolidated subsidiary of Japanese retail group Seven and I Holdings, will acquire approximately 1,100 convenience stores from convenience and retail fuel operator, Sunoco (SUN). According to a company release, the $3.3 billion-assets for acquisition include a majority of SUN's convenience stores in 19 geographic regions primarily along the East Coast and in Texas,…
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USA: Energy Transfer in talks to sell Sunoco
Energy Transfer Equity LP, a U.S. pipeline company that recently agreed to acquire Williams company, could be putting up for sale gas station and convenience store chain Sunoco, reported Fortune. The potential deal, which has been tipped by three sources familiar with the matter, could be worth over $2 billion. In reports which have not…
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Sunoco says earnings rose after Aloha, MACS purchases
Sunoco said in a statement issued February 18 that its adjusted earnings before income, taxes and depreciation for 2014 totaled $65.5 million, of which approximately two-thirds was attributable to the acquisition of Mid-Atlantic Convenience Stores, L.L.C. ("MACS") and Aloha Petroleum, Ltd. ("Aloha") in early October and mid-December, respectively. “By comparison, adjusted EBITDA in the fourth…
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