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RICHMOND, Va. -- Contrary to published reports, Petro Group Ltd., the parent company of Fas Mart c-store chain operator GPM Investments, is not an acquisition target of EZ Energy Ltd., GPM CEO Dave McComas told CSNews Online yesterday.
Published reports by an international news Web site had stated EZ Energy CEO Avi Geffen indicated a takeover was possible during a Petro Group bondholders meeting last week in Tel Aviv, Israel.
McComas called the report "100 percent false," and called the notion of such a merger just a rumor.
GPM Investments operates 214 gas stations and convenience stores in the U.S. under the Fas Mart, Shore Stop and Double Kwik brands. EZ Energy, meanwhile, operates 92 gasoline stations and convenience stores in Ohio and Pennsylvania under its subsidiary EZ Energy USA Inc.
Last month, CSNews Online reported that signed agreements with an investors' group to sell Petro Group to Australian gas station and convenience store operator United Petroleum pty Ltd. was cancelled.
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