NEW YORK: Store operator Arko is planning to divest its convenience store operations in a deal that could be valued at around US$2bil, as it looks to abandon a yearslong expansion strategy after grappling with a slowdown in sales from the store business, people familiar with the matter say.
Richmond, Virginia-based Arko is working with investment bankers at Citigroup to sell the package of about 1,500 stores that it currently operates, the sources said, requesting anonymity as the discussions are confidential.
