SUN - Sunoco's Strategic Moves: $1B 7-Eleven Deal European Terminals Acquisition Growth Focus | Benzinga
Sunoco LP (NYSE: SUN) disclosed a deal for selling 204 convenience stores to 7-Eleven for around $1 billion, including customary fuel and merchandise inventory adjustments.
As part of the sale, Sunoco will also amend its existing take-or-pay fuel supply deal with 7-Eleven to incorporate additional fuel gross profit.
The company will allow proceeds from the sale to materially reduce leverage to execute future growth opportunities while maintaining a strong balance sheet and multi-year distribution ...