Exxon Mobil to Sell 430 Texas Mobil Stations

Exxon Mobil Corp. on Thursday reached an agreement to sell about 430 Mobil stations in Texas, a step it agreed to take to win U.S. regulatory approval of its $85.2-billion merger.

Financial terms weren’t disclosed.

The oil giant will sell Mobil’s 49% stake in about 318 stations to Tetco Inc. of San Antonio.

7-Eleven Inc. agreed to buy Mobil’s stakes in 10 Texas stations. Supply contracts in Houston and Bryan-College Station--about 102--will be acquired by Houston-based Petroleum Wholesale Inc.

Shares of Irving, Texas-based Exxon Mobil closed up 56 cents at $75.50 on the New York Stock Exchange.