Newsletter 
  INSCRIPTION Inscription | ESPACE ANNONCEURS Publicité | CONTACT Contact |PLAN DU SITE Plan


Europétrole, le portail de l'industrie du pétrole
 
 accueil | actualité française | actualité internationale | recherche | interviews | focus | actualité par entreprise | actualité pétrole/gaz de schiste 
Partager :

  • Marathon Petroleum Corp. Announces Agreement for $21 Billion Sale of Speedway
    édité le 03/08/2020 - Plus de news de "Marathon Petroleum" - Voir la fiche entreprise de "Marathon Petroleum"


Marathon Petroleum Corp. Announces Agreement for $21 Billion Sale of Speedway
Marathon Petroleum Corp. announced that it and certain of its subsidiaries have entered into a definitive agreement with 7-Eleven, Inc., a wholly owned, indirect subsidiary of Seven & i Holdings Co., Ltd. (3382: Tokyo), whereby 7-Eleven will acquire Speedway for $21 billion in cash. The transaction is expected to close in the first quarter of 2021, subject to customary closing conditions and regulatory approvals.

"This transaction marks a milestone on the strategic priorities we outlined earlier this year," said Michael J. Hennigan, president and chief executive officer. "Our announcement crystalizes the significant value of the Speedway business, creates certainty around value realization and delivers on our commitment to unlock the value of our assets. At the same time, the establishment of a long-term strategic relationship with 7-Eleven creates opportunities to improve our commercial performance."

Strategic Rationale:

Certainty of Value for MPC Shareholders: The $21 billion valuation represents a significant value unlock. The 100% cash transaction immediately captures value for MPC shareholders relative to potential valuation risks of other alternatives.

Significant After-Tax Cash Proceeds: This transaction is expected to result in after-tax cash proceeds of approximately $16.5 billion. MPC expects to use the proceeds to both repay debt to protect its investment grade credit profile and return capital to shareholders. Specific details will be announced at the time of transaction close.

Long-Term Relationship Drives Additional Value: The arrangement includes a 15-year fuel supply agreement for approximately 7.7 billion gallons per year associated with the Speedway business. The company expects incremental opportunities over time to supply 7-Eleven's remaining business as existing arrangements mature and as 7-Eleven adds new locations in connection with its announced U.S. and Canada growth strategy.

Approvals and Timing

The transaction has been unanimously approved by the boards of directors of both companies. The transaction is expected to close in the first quarter of 2021 and is subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

About Marathon Petroleum Corporation

Marathon Petroleum Corporation (NYSE: MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. The company operates the nation's largest refining system. MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets. Speedway LLC, an MPC subsidiary, owns and operates retail convenience stores across the United States. MPC also owns the general partner and majority limited partner interest in MPLX LP, a midstream company that owns and operates gathering, processing, and fractionation assets, as well as crude oil and light product transportation and logistics infrastructure.

About 7‑Eleven, Inc.

7–Eleven, Inc. is the premier name and largest chain in the convenience-retailing industry. Based in Irving, Texas, 7–Eleven operates, franchises and/or licenses more than 71,100 stores in 17 countries, including approximately 11,800 in North America. Known for its iconic brands such as Slurpee®, Big Bite® and Big Gulp®, 7–Eleven has expanded into high-quality sandwiches, salads, side dishes, cut fruit and protein boxes, as well as pizza, chicken wings and mini beef tacos. 7–Eleven offers customers industry-leading private brand products under the 7-Select™ brand including healthy options, decadent treats and everyday favorites, at an outstanding value. Customers can earn and redeem points on various items in stores nationwide through its 7Rewards® loyalty program, place an order in the 7NOW® delivery app in 28 participating markets, or rely on 7‑Eleven for bill payment service, self-service lockers and other convenient services.


Origine : Communiqué Marathon Petroleum

Voir la fiche entreprise de "Marathon Petroleum"



Les dernières news de "Marathon Petroleum"

 
 
 
Emploi-Pétrole
 
Rechercher une news



française internationale








 
Les dernières news internationales


>> Toute l'actualité internationale     >> RSS
 
Recherche de news par tags

abu-dhabi adnoc aker-solutions algeria algerie algerie alstom amec anadarko angola apache australia axens azerbaijan baker-hughes barents-sea bechtel bg-group bp brazil canada carburant cbi cgg chevron china chiyoda cnooc cnpc co2 commission-europeenne compressor conocophillips consommation cpdp deepwater discovery drilling e-on edf egypt emerson engie engineering eni equinor exxonmobil feed flng flowline fluor fluxys fmc foster-wheeler fpso fsru fugro gabon gas gaz gazprom gazprom-neft gdf-suez ge ghana gnl gtt gulf-of-mexico hess india indonesia inpex iraq jacobs jgc kbr keppel licence lng lukoil lundin maersk-drilling malaysia mcdermott methanier mozambique natural-gas nigeria nigeria nord-stream north-sea norway novatek offshore oman omv opec pdvsa pemex petrobras petrofac petronas pgnig pipeline platform qatar qatar-petroleum qatargas raffinerie refinery repsol rig riser rosneft russia rwe saipem santos saudi-aramco schlumberger seadrill senegal shah-deniz shale-gas shell sinopec socar sonatrach south-stream statoil subsea subsea-7 survey tap technip technipfmc texas total transocean tullow turbine ufip uk us vallourec vopak well wintershall wood-group woodside



Europétrole © 2003 - 2020