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Marathon review of Enon-based Speedway could include spin-off

Speedway’s parent company will review the Enon-based business this year, a plan that could include spinning off the large convenience store chain.

Marathon Petroleum Company, Speedway's parent, said this morning it will consider a “tax-free separation of Speedway to (Marathon) shareholders,” as well as other strategic and financial alternatives.

Speedway’s corporate headquarters is in Enon and it's one of Clark County’s largest employers.

“Driving long-term value for our shareholders has always been and remains a top priority,” said Gary Heminger, Marathon’s president and CEO in a statement.

Company leaders plan to provide an update of the review of Speedway’s operations by the middle of this year, according to information from the company.

Marathon is the third largest fuel refiner in the U.S. and Speedway is the largest company-owned convenience store chain in the nation.

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