January 19, 2018 / 9:54 PM / a month ago

Parent company of 7-Eleven agrees to divest some U.S. stores in Sunoco deal

WASHINGTON, Jan 19 (Reuters) - Seven & i Holdings Co Ltd , the Tokyo-based parent company of the 7-Eleven network of stores, agreed to sell and divest some fuel outlets in its proposed $3.3 billion acquisition of 1,100 Sunoco LP outlets, the U.S. Federal Trade Commission said Friday.

Under the terms of the consent agreement, 7-Eleven will sell 26 retail fuel outlets that it owns to Sunoco, and Sunoco is required to retain 33 fuel outlets that 7-Eleven otherwise would have acquired. The FTC said without the sales the acquisition would harm competition in 76 local markets across 20 metropolitan areas. The deal was announced in April 2017. (Reporting by David Shepardson; Editing by Lisa Shumaker)

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