Seven & i to buy Sunoco assets for $3.3 billion

Japanese retailer Seven & i Holdings Co

(3382.T) said on Thursday it would buy most of Sunoco LP's (SUN.N) convenience store and gasoline retail businesses for about $3.3 billion.

Seven & i, which operates the 7-Eleven convenience store chain, said in a statement the deal was aimed at expanding its store network and improving profitability.

Seven & i said it expects to carry out the acquisition from Texas-based Sunoco in August.

REUTERS*

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