Couche-Tard signs a $4.5 billion agreement to buy gas stations in Europe

The proposed acquisition would represent 100% of TotalEnergies' retail-related assets in Germany and the Netherlands. (File photo)

Alimentation Couche-Tard announced on 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 of the transaction is approximately €3.1 billion, which is equivalent to C$4.52 billion, subject to customary closing adjustments.

The proposed acquisition would represent 100% of TotalEnergies' retail-related assets in Germany and the Netherlands, as well as a 60% majority stake for the entities in Belgium and Luxembourg.

The multinational retail trade based in Laval 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 owned by the company and 32% are owned by independent operators.

The transaction is also part of the existing European network of Alimentation Couche- Late. 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 is present in 24 countries and territories , and has more than 14,300 stores.

Alimentation Couche-Tard prepares for the switch from gasoline to recharging