Crossamerica Partners Lp · NYSE:CAPL
Crossamerica Partners Lp — Merger or Acquisition (November 2019)
8 slides from Crossamerica Partners Lp's merger presentation, Nov 21, 2019
Slide 1: Acquisition of CrossAmerica's General Partner, IDRs and Limited Partner Interest
Acquisition of CrossAmerica’s General Partner, IDRs and Limited Partner Interest November 2019 Exhibit 99.3
Slide 2: Forward Looking Statement
Forward Looking Statement Statements contained in this presentation that state the Partnership’s or management’s expectations or predictions of the future are forward-looking statements. The words “believe,” “expect,” “should,” “intends,” “estimates,” “target” and other similar expressions identify
Slide 3: Alimentation Couche-Tard Sells Ownership Interest in CrossAmerica to Investment Entities Controlled by Joe Topper
Alimentation Couche-Tard Sells Ownership Interest in CrossAmerica to Investment Entities Controlled by Joe Topper* *Additional details regarding the sale of the CrossAmerica interests are included in a joint (Couche-Tard and CrossAmerica) press release and Form 8-K filing, issued on November 19 and
Slide 4: Alimentation Couche-Tard and CrossAmerica also announce an Additional Asset Exchange
Alimentation Couche-Tard and CrossAmerica also announce an Additional Asset Exchange* *Additional details regarding the additional asset exchange between Couche-Tard and CrossAmerica are included in a joint (Couche-Tard and CrossAmerica) press release and Form 8-K filing, issued on November 19 and 2
Slide 5: Original Asset Exchange Remains on Track (Announcement in December 2018)
Original Asset Exchange Remains on Track (Announcement in December 2018) *Additional details regarding the asset exchange agreement are included in a joint (Couche-Tard and CrossAmerica) press release and Form 8-K filing, both issued on December 17, 2018, and available on the CrossAmerica website at
Slide 6: CrossAmerica – New Board of Directors
CrossAmerica – New Board of Directors Upon the closing of this transaction, the following individual members comprise the General Partner’s board of directors: Joe Topper (Chairman), founder and former Chief Executive Officer John B. Reilly, III (Vice Chairman) Justin Gannon* (Audit Committee Chair)
Slide 7: CrossAmerica – New Executive Leadership Team
CrossAmerica – New Executive Leadership Team With the closing of this transaction, the following individuals have been named to the leadership team: Charles Nifong, President and Chief Executive Officer Mr. Nifong was the Chief Investment Officer of CrossAmerica from 2013-2015 Jon Benfield, Interim
Slide 8: Additional Information
Additional Information At this time, CrossAmerica anticipates maintaining its current distribution policy Management remains comfortable with the following targets outlined over the past few quarters: Distribution coverage (+1.10 times) Leverage ratio (4.00-4.25 times) In the coming weeks and months
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