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Coastal Selling Off 253 Service Stations Amid Merger Plans

HOUSTON-The planned merger of Coastal Corp. and El Paso Energy Corp. has nothing to do with the sell-off of 253 convenience store-gas station combos on the eastern seaboard, says the company's CEO. The acquisition and the merger are expected to close by the end of this month.

By Jack Burney | Updated on December 11, 2000

HOUSTON-The Coastal Corp. of Houston, on the brink of a merger with El Paso Energy Corp., has sold off 253 of its convenience store-service station locations in east and northeast. The sale to Sunoco Inc. has nothing to do with the merger, according to David A. Arledge, Coastal CEO.

“The proposed sale stems from several changes in the marketplace and in our business plans in recent years,” Arledge says. The final signing hinges on due diligence and regulatory approvals, but is expected to close by year’s end along with the planned merger.

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