The deal would be the biggest by 7-Eleven Inc, known for its 'Slurpee' frozen beverage. 'We view Sunoco's divestiture of assets and agreement with 7-Eleven positively as the transaction should alleviate (its) currently high leverage position and provide significantly higher cash flow visibility,' RBC Capital Markets analyst Elvira Scotto said in a client note. The deal with 7-Eleven is the first step in Sunoco's strategic move away from company-operated convenience stores to focus on its fuel supply business. Sunoco expects to use the proceeds primarily to repay debt, and the rest for general partnership purposes.

Sunoco currently operates about 1,350 retail fuelling sites and convenience stores under brands such as APlus and Stripes, the firm's website showed. unit 7-Eleven Inc has agreed to buy 1,108 Sunoco convenience stores and petrol stations in Texas and other states in August. We see opportunities there,' 7-Eleven President Ryuichi Isaka said at an earnings briefing after announcing the Sunoco deal.ħ-Eleven runs general merchandise, department and speciality 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. convenience store market has growth momentum.

Stripes store