LAVAL, QC, Nov. 6, 2023 /PRNewswire/ – Alimentation Couche-Tard Inc. (“Couche-Tard” or the “Corporation”) (TSX: ATD) announces that it has received a decision not to oppose from the European Commission (the “Commission”) for the acquisition of certain European retail assets from TotalEnergies, which was previously announced on March 16, 2023. The Corporation anticipates the completion of the acquisition to take place in December 2023.
As previously announced on March 16, 2023, the acquisition comprises 100% of TotalEnergies retail assets in Germany and the Netherlands as well as a 60% controlling interest in the Belgium and Luxembourg entities. The transaction will be financed using available cash, existing credit facilities, US Commercial Paper Program, and a new term loan.
“The decision by the European Commission is an important marker in the completion of this acquisition, and I want to thank all involved for their outstanding commitment in getting us to this stage. This game-changing transaction is on track to close by the end of December, and we are truly excited to welcome new team members and stores across these four European countries as we grow together to become the world’s preferred destination for convenience and mobility,” said Brian Hannasch, President, and CEO of Couche-Tard.
About Alimentation Couche-Tard Inc.
Couche-Tard is a global leader in convenience and mobility, operating in 25 countries and territories, with more than 14,400 stores, of which approximately 10,800 offer road transportation fuel. With its well-known Couche-Tard and Circle K banners, it is one of the largest independent convenience store operators in the United States and it is a leader in the convenience store industry and road transportation fuel retail in Canada, Scandinavia, the Baltics, as well as in Ireland. It also has an important presence in Poland and Hong Kong Special Administrative Region of People’s Republic of China. Approximately 128,000 people are employed throughout its network.
For more information on Alimentation Couche-Tard Inc., or to consult its audited annual Consolidated Financial Statements, unaudited interim condensed consolidated financial statements and Management Discussion and Analysis, please visit: https://corpo.couche-tard.com.
Certain statements in this press release may constitute forward looking statements within the meaning of securities legislation, including those with respect to the potential transaction. Positive or negative verbs such as “believe”, “can”, “shall”, “intend”, “expect”, “estimate”, “assume” and other related expressions are used to identify such statements. Such statements are based upon the current beliefs and expectations of Couche-Tard and are subject to significant risks and uncertainties outside of Couche-Tard’s control. Couche-Tard would like to point out that, by their very nature, forward-looking statements involve risks and uncertainties such that its results, or the measures it adopts, could differ materially from those indicated in or underlying these statements, or could have an impact on the degree of realization of a particular projection. Unless otherwise required by applicable securities laws, Couche-Tard disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking information in this release is based on information available as of the date of the release.
SOURCE Alimentation Couche-Tard Inc.