Business
ALIMENTATION COUCHE-TARD ANNOUNCES THE FIRM OFFER TO ACQUIRE CERTAIN EUROPEAN ASSETS FROM TOTALENERGIES
ALIMENTATION COUCHE-TARD ANNOUNCES THE FIRM OFFER TO ACQUIRE CERTAIN EUROPEAN ASSETS FROM TOTALEN...
About this update from Alimentation Couche-tard Inc.
[{"type":"text","content":"\n \n \n \n ALIMENTATION COUCHE-TARD ANNOUNCES THE FIRM OFFER TO ACQUIRE CERTAIN EUROPEAN ASSETS FROM TOTALENERGIES\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n LAVAL, QC\n \n \n ,\n \n \n March 16, 2023\n \n \n /CNW/ - Alimentation Couche-Tard Inc. (\"Couche-Tard\" or the \"Corporation\") (TSX: ATD) announces today that it has agreed to a firm and irrevocable offer to acquire certain assets to be carved out from TotalEnergies and has entered into exclusive negotiations on this basis. The proposed acquisition would comprise 100% of TotalEnergies retail assets in\n \n Germany\n \n and\n \n the Netherlands\n \n as well as a 60% controlling interest in the\n \n Belgium\n \n and\n \n Luxembourg\n \n entities. The proposed acquisition will be submitted to the relevant employee representative bodies and remains subject to customary regulatory approvals.\n \n \n \n \n \n \n \n \n \n The retail assets included in the proposed acquisition, at the end of calendar 2022, cover 2,193 sites where 1,195 are located in\n \n Germany\n \n , 566 in\n \n Belgium\n \n , 387 in\n \n Netherlands\n \n and 45 in\n \n Luxembourg\n \n . The majority are company-owned (68%) with the balance being dealer-owned (32%). For calendar 2022, earnings before interest, taxes, depreciation, amortization, and impairment (\"EBITDA\")\n \n 1\n \n were at approximately €500 million\n \n 2\n \n for the entities covered by this proposed transaction, including the non-controlling interest, or approximately €455 million\n \n 2\n \n excluding the non-controlling interest.\n \n \n The purchase price for this proposed transaction, to be paid in cash, is approximately €3.1 billion on a cash-free, debt-free basis, subject to customary closing adjustments. Th...