Deals
Seven & i Buys CST Stores in U.S. Push, Not Keen on Takeover Bid
- Japanese owner of 7-Eleven seeks to expand in U.S. market
- Seven & i says not interested to buy entire CST Brands chain
This article is for subscribers only.
Seven & i Holdings Co., the world’s largest convenience store operator, will buy 79 gas stations and convenience stores in California and Wyoming from CST Brands Inc., but won’t bid for the entire company even as it seeks to expand in the U.S. to offset slowing demand in Japan.
The Japanese retailer’s U.S. unit, 7-Eleven Inc., entered the agreement with San Antonio-based CST Brands for an undisclosed sum, and the deal is expected to close next month, the buyer said in a statement dated June 2.