(Laval) Alimentation Couche-Tard announced Thursday an agreement to acquire certain European assets to be separated from TotalEnergies, a global multi-energy energy production and supply company.
The purchase price for the transaction is approximately €3.1 billion, equivalent to C$4.52 billion, subject to customary closing adjustments.
The proposed acquisition would represent 100% of TotalEnergies’ service station networks in Germany and the Netherlands as well as a majority stake of 60% for the entities in Belgium and Luxembourg.
The Laval-based retail multinational specifies that the assets included in the proposed acquisition covered 2,193 sites at the end of last year, of which 1,195 are located in Germany, 566 in Belgium, 387 in the Netherlands and 45 in Luxembourg. Of these, 68% are corporately owned and 32% are owned by independent operators.
The president and CEO of Alimentation Couche-Tard, Brian Hannasch, believes that TotalEnergies stores share the same customer-focused approach and the same values as those of the Quebec company. The transaction is also part of the existing European network of Alimentation Couche-Tard.
If the firm offer is accepted by TotalEnergies, the transaction proposed by Alimentation Couche-Tard should be finalized before the end of 2023.
Alimentation Couche-Tard operates in 24 countries and territories and has more than 14,300 stores.
Company named in this dispatch: Alimentation Couche-Tard (TSX: ATD)