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11/04/2020

7-Eleven parent could divest up to 300 locations

Marianne Wilson
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7-Eleven may be getting ready to sell off some locations as part of an acquisition.

In August, Marathon Petroleum Corp. entered into an agreement to sell the 3,900-store Speedway chain to Seven & i Holdings Co. Ltd., parent company Texas-based 7-Eleven Inc. The deal would leave Seven & i with some overlap between 7-Eleven and Speedway stores, which is looking to address by divesting up to 300 gas stations, according to Reuters.

TDR Capital, the private equity firm that owns U.K.-based EG Group, plans to make an offer for the gas stations, the report said, citing according to people familiar with the matter. EG Group purchased U.S. convenience store chain Cumberland Farms last year.