Mobil Oil Australia (Mobil) is selling its retail fuels business comprising 295 company-owned or leased service stations, to 7-Eleven Australia (7-Eleven).
The sale covers the company Strasburger Enterprises (Properties), which operates Mobil’s metropolitan retail service station network in Australia.
Under the agreement, SEP is being sold as a going concern and the employment of those directly employed by SEP will continue through the change in ownership.
“We are pleased to have been able to reach agreement for the sale of our retail business to 7-Eleven,” said Mobil’s Fuels director Kim MacMillan.
“7-Eleven has a strong focus on convenience retailing and has also established a well recognised position in the retail fuels market in Australia over the last decade.
“The Australian retail fuels market is highly competitive and challenging. Mobil is now a relatively small participant in that sector of the market following the extensive rationalisation of its company owned service station network over the last few years.
“We continue to be a major fuel wholesaler to the commercial and industrial sectors of the market including aviation, regional distributors and other independent resellers,” she said.