Foreign Billionaire Buys Stake in Fas Mart Parent

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Foreign Billionaire Buys Stake in Fas Mart Parent

ISRAEL -- Through a $42.5 million deal for 65 percent of Israel-based Ameris Holdings, Russian-Israeli billionaire Arcadi Gaydamak, now has ties to the Fas Mart and Shore Stop U.S. chain of convenience stores.

Ameris Holdings owns 51 percent of Petro Group -- formerly known as Gmul Energy --and Petro Group's corporate unit, GPM US Partners, LP operates the 138-store Fas Mart and Shore Stop convenience chains through a number of subsidiaries, reported.

Gaydamak also received an option to buy the remaining 35 percent of Ameris within a year of closing the transaction, for $22.7 million, the report stated. The deal is expected to close by July 3. Ameris' primary business is real estate and its main holding is Petro Group, according to the report.

Through its corporate units, Petro Group operates 144 convenience stores in the eastern U.S., and also supplies gasoline to 135 gas retailers, a number of which lease the property from the company, according to the report.