Canada's Couche-Tard in talks on $3.3 billion TotalEnergies stores deal By Reuters

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Canada's Couche-Tard in talks on $3.3 billion TotalEnergies stores deal

Stock Markets Mar 16, 2023 04:46AM ET

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Canada's Couche-Tard in talks on $3.3 billion TotalEnergies stores deal

(Reuters) - Convenience store operator Alimentation Couche-Tard is in exclusive talks to buy some of French energy company TotalEnergies retail assets for 3.1 billion euros ($3.29 billion) in cash, the Canadian company said on Thursday.

The proposed deal would comprise all of the stores at TotalEnergies' service stations in Germany and the Netherlands as well as a 60% controlling interest in its stores in Belgium and Luxembourg.

The purchase price of about 3.1 billion euros is on a cash-free, debt-free basis, subject to closing adjustments, the Couche-Tard statement said.

Couche-tard said it plans to fund the deal with available cash along with existing and credit facilities and new debt.

($1 = 0.9422 euros)

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