Japanese retail giant 7 & i Holdings, which owns seven-Eleven, has reached a deal to obtain the gasoline station chain Speedway from Marathon Petroleum, the firms introduced.
In a statement, seven-Eleven reported it would acquire close to three,900 Speedway shops in 35 states for $21 billion in hard cash. The enterprise currently has around nine,800 shops in the U.S. and Canada. It reported, next the deal, that seven-Eleven will have a existence in forty seven of the top fifty most populated metro spots in the U.S.
“This acquisition is the premier in our company’s heritage and will allow us to continue on to increase and diversify our existence in the U.S., especially in the Midwest and East Coast,” Chief Government Officer Joe DePinto reported.
7 & i reported it would finance the deal through financial debt and loans, and that it planned to lower its financial debt-to-EBITDA ratio to down