IRVING, Texas, March 23 /PRNewswire/ -- Exxon Mobil Corporation
(NYSE: XOM) announced today that it has finalized agreements of sale for most
of Mobil's Texas marketing assets and supply arrangements, involving about
430 stations. The agreements satisfy the conditions required by the Federal
Trade Commission and the Texas Attorney General, who signed a parallel consent
order for approving the ExxonMobil merger, and have received regulatory
approval.
The agreements announced today provide for:
-- the sale of Mobil's 49 percent equity interest and the assignment of
Mobil's supply contracts in Austin, Dallas and San Antonio to Tetco,
Inc. (about 318 stations).
-- the sale of Mobil's interests in seven Dallas area service stations,
as required by the FTC, plus three additional outlets in the Fort
Worth area, to 7-Eleven, Inc. Mobil and 7-Eleven, Inc. jointly
developed and operated these 10 retail outlets.
-- the assignment of Mobil's supply contracts in Houston and
Bryan-College Station to Petroleum Wholesale Inc. (about
102 stations).
Despite these divestitures, ExxonMobil still maintains a significant
marketing presence in Texas with the retention of approximately 1,500 Exxon-
branded stations and 200 Mobil-branded stations in the state.
Exxon Mobil Corporation is a leading global oil, natural gas, and
petrochemicals company whose subsidiaries have operations in about
200 countries. Exxon Mobil Corporation was formed by the merger of Exxon and
Mobil on November 30, 1999.
Additional information regarding ExxonMobil can be found at
http://www.exxon.mobil.com.
SOURCE Exxon Mobil Corporation
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Related links:
http://www.exxon.mobil.com
Company News On-Call:
http://www.prnewswire.com/comp/143842.html or fax,
800-758-5804, ext. 143842
CONTACT:
Dave Dickson of Exxon Mobil Corporation,
972-444-1108
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