7-Eleven operator to buy U.S. stores from Sunoco for $3.3 billion

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Seven & i Holdings Co (3382. T) on Thursday said it would buy convenience stores and petrol stations from Texas-based Sunoco LP (SUN.N) for about $3.3 billion, as the Japanese retailer closes in on its goal to reach 10,000 North American outlets. The operator of the 7-Eleven chain of convenience stores has been aggressively opening stores in Japan as well as the United States, where it has been acquiring stores from local retailers. Seven & i runs general merchandise, department and specialty stores, but the bulk of its operating profit comes from convenience stores - or 86 percent of 364.6 billion yen ($3.29 billion) in the year through February.
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