Husky Energy Inc. cumulative redeemable preferred T.HSE.PR.B

711 buys Sunoco stores

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I posted this on the SU board, but I suppose it applies to HSE as well. Imperial sold their chain. Now Sunoco is selling theirs. Why does HSE continue to hold their retail sales division insstead of capitalizing on what appeasr to be strong demand for such an asset? Does management think its value will continue to increase faster than any alternate investment? What makes HSE's situation so different that warrants keeping the business instead of selling it to pay down debt or fund E&P projects?

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Seven & i Holdings Co. agreed to pay US$3.3 billion for some Sunoco shops and gasoline retailers in an ambitious push by the 7-Eleven convenience chain owner to expand its U.S. footprint with its largest deal on record. The purchase by the Japanese retailer’s 7-Eleven Inc. unit will add 1,108 gas stations and convenience stores in Texas and across the eastern U.S., the Japan-based parent said Thursday in a statement. Sunoco’s retail business includes more than 1,300 stores and reported operating income of US$103 million last year on revenue of US$7.7 billion.