Couche-Tard Gets Regulatory OK For TotalEnergies Deal
November 06 2023 - 5:59PM
Dow Jones News
By Ben Glickman
Alimentation Couche-Tard can complete its purchase of
TotalEnergies' European retail assets after the company received a
decision from the European Commission not to oppose the deal.
The Canadian convenience-store operator said it expects the deal
to close in December.
Couche-Tard announced in March it had made a 3.1 billion euro
($3.32 billion) offer to acquire retail assets in Germany and the
Netherlands from TotalEnergies, which includes more than 1,500
service stations. TotalEnergies accepted the offer in June.
In Belgium and Luxembourg, the companies will form a joint
venture to operate more than 600 services stations, with
Couche-Tard holding a majority stake.
The deal will be financed with cash, existing credit facilities,
U.S. Commercial Paper Program and a new term loan.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
November 06, 2023 17:44 ET (22:44 GMT)
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