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 Federal Trade Commission. Subject to completion of the regulatory process and customary closing conditions, 7-Eleven and Sunoco expect closing to occur in January 2018.
In April, both companies announced that 7-Eleven had agreed to acquire Sunoco’s 1,100 convenience stores for $3.3 billion with a supply agreement for Sunoco fuels.
Sunoco distributes motor fuel to 7,898 convenience stores, independent dealers, commercial customers and distributors located in 30 states.
Source: PetrolPlaza.com
