Akin Gump Advises 7-Eleven, Inc. in $3.3 Billion Convenience Store Purchase
(Dallas) – 7-Eleven, Inc., the largest chain in the convenience-retailing industry, has announced it has entered into an asset purchase agreement with Sunoco LP to acquire approximately 1,108 convenience stores, located in 18 states, in a deal valued at $3.3 billion. Akin Gump advised 7-Eleven in the transaction.
7-Eleven, Inc. currently has more than 8,700 stores in the United States and Canada. This acquisition will be one of the largest in the company’s history. The deal is expected to close in the second half of this year.
Akin Gump’s Thomas Yang and Matt Zmigrosky, partners in the firm’s corporate practice, led the team advising 7-Eleven. They were joined by corporate partner Kenneth Menges, counsel Nicholas Houpt, and associates Ashton Butcher and Katie Bailey; oil and gas partner John Goodgame on MLP matters; tax partner Alison Chen; corporate partner Alan Laves for finance work; labor and employment partner Lauren Leyden and associate Jeffrey Wiener; employee benefits partner Rolf Zaiss; antitrust partner Corey Roush and associate Deona Kalala; environment and natural resources partner David Quigley and senior counsel Andrew Oelz; real estate partner John Bain; and intellectual property senior counsel Peter Emmi.
Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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