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ExxonMobil and 7-Eleven strike deal

ExxonMobil and 7-Eleven strike deal

Blake Dawson and Minter Ellison have acted on the negotiated merger and acquisition between ExxonMobil and 7-Eleven Australia. ExxonMobil (represented by Blake Dawson) signed agreements with the…

Blake Dawson and Minter Ellison have acted on the negotiated merger and acquisition between ExxonMobil and 7-Eleven Australia.

ExxonMobil (represented by Blake Dawson) signed agreements with the 7-Eleven Australia Group (advised by Minter Ellison) to sell almost 300 of its service station assets.

The deal is expected to be completed before the end of the year.

The transaction follows the Australian Competition and Consumer Commission's opposition to the proposed sale of the same ExxonMobil service stations to Caltex.

The agreements for the sale to Caltex were terminated on 29 April 2010.

Blake Dawson lead partner Peter Stirling said of the deal: "This was a novel transaction due to the complications associated with selling approximately 300 service station sites across the country in a high profile sector subject to particular scrutiny by the ACCC."

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