In what is one of the biggestglobal acquisitions to be announced this year, Marathon PetroleumCorp. has agreed to sell its chain of Speedway convenience storesand gas stations to 7-Eleven for $21 billion in cash. Thetransaction is expected to close in the first quarter of 2021,subject to customary closing conditions and regulatoryapprovals.
The deal includes about 3,900convenience stores.
"This acquisition is the largestin our company's history and will allow us to continue to grow anddiversify our presence in the US, particularly in the Midwest andEast Coast," said Joe DePinto, president and CEO of7‑Eleven.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
