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7-Eleven expects Sunoco deal to close by January 2018

Seven & i Holdings Co. Ltd.'s U.S.-based subsidiary 7-Eleven Inc. expects to complete its business acquisition transaction with Sunoco LP by January 2018, according to a Dec. 6 release from Seven & i.

7-Eleven in April bought 1,108 Sunoco stores for about $3.31 billion as part of its plan to acquire part of the convenience store and gasoline retail businesses of the fuel distribution company.

The companies believe the deal is in the latter stages of the regulatory approval process with the U.S. Federal Trade Commission, Seven & i said.

Once the transaction is complete, Seven & i said it will report an overview of the deal and provide a notice of impact on the financial results for the fiscal year ending Feb. 28, 2018.