Japan's Seven & i seals $21 billion deal for Marathon Petroleum's Speedway gas stations
Publishing timestamp: 2020-08-03 09:47:04
Summary
Japanese owner of 7-Eleven convenience stores agrees to buy Marathon Petroleum's Speedway gas stations for $21 billion, despite initial concerns about the pandemic. The deal is one of the biggest this year and will help Seven & i Holdings expand its presence in the United States. The acquisition will be funded through debt and loans, with a focus on increasing food offerings at U.S. stores.
Sentiment: MIXED
Tickers: MPC,
Keywords: retail industry, business news, marathon petroleum corp, oil and gas,