U.S. watchdog sues Japan’s Seven & i over store acquisition in U.S.

Economy

The U.S. Federal Trade Commission on Monday sued Japanese firm Seven & i Holdings Co. and its American subsidiary, alleging that the convenience store operator violated an order not to increase stores in certain areas in the United States without prior notice.

The FTC is seeking a maximum penalty of over $77 million against 7-Eleven Inc. in connection with an acquisition of a fuel outlet in Florida, which it criticized as “anticompetitive” and likely allowed the company to charge higher fuel prices at nearby locations.

7-Eleven had agreed to the FTC’s consent order on store acquisition issued ...

Kyodo News

Kyodo News