7-11 Must Shed Sites To Pursue Exxon's Aussie Assets

Law360, New York (July 22, 2010, 12:13 PM EDT) -- Australia's competition watchdog has given the green light for 7-Eleven Pty. Ltd. to move forward with its proposed takeover of Exxon Mobil Corp.'s Australian retail assets, as long as the convenience store franchise sheds several individual filling stations.

The Australian Competition and Consumer Commission said Thursday it would not intervene in the sale of Irvin, Texas-based Exxon's 295 Australian stations to 7-Eleven provided the company divests three sites, one in New South Wales and two in Queensland.

The agency also gave the go-ahead to 7-Eleven's bid...
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