Japanese retailer Seven & i to buy Sunoco assets for $3.3 billion

Markets Reuters

  • A man walks out of Seven & i Holdings Co's Seven Eleven convenience store in Tokyo, Japan January 12, 2017. REUTERS/Kim Kyung-Hoon

    A man walks out of Seven & i Holdings Co's Seven Eleven convenience store in Tokyo, Japan January 12, 2017. REUTERS/Kim Kyung-Hoon (Copyright Reuters 2017)

  • A Sunoco logo is pictured on a building in Syracuse, New York April 15, 2016 REUTERS/Carlo Allegri

    A Sunoco logo is pictured on a building in Syracuse, New York April 15, 2016 REUTERS/Carlo Allegri (Copyright Reuters 2017)

Japanese retailer Seven & i Holdings Co <3382.T> said on Thursday it would buy most of Sunoco LP's convenience store and gasoline retail businesses for about $3.3 billion.

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Seven & i, which operates the 7-Eleven convenience store chain, said in a statement the deal was aimed at expanding its store network and improving profitability.

Seven & i said it expects to carry out the acquisition from Texas-based Sunoco in August.

(Reporting by Chris Gallagher; Editing by Amrutha Gayathri)