Marathon Petroleum (MPC) Announces Close of $21 Billion Speedway Sale and Return of Capital Plans
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Marathon Petroleum Corp. Announces Close of $21 Billion Speedway Sale and Return of Capital Plans
May 14, 2021 11:04 AM EDTFINDLAY, Ohio, May 14, 2021 /PRNewswire/ --Â Marathon Petroleum Corp. (NYSE: MPC) today announced the close of the $21 billion sale of Speedway to 7-Eleven, Inc., a wholly owned, indirect subsidiary of Seven & i Holdings Co., Ltd (3382: Toyko). In conjunction with closing, MPC announced its plans regarding the estimated $16.5 billion of after-tax cash proceeds.
"The close of the Speedway transaction marks a significant milestone in our ongoing commitment to strengthen the competitive position of our portfolio," said Executive Vice President and Chief Financial Officer Maryann T. Mannen. "This morning, we announced actions to... More
