LAVAL, Quebec -- Alimentation Couche-Tard Inc. has announced that the acceptance level to its all-cash offer for all the issued and outstanding shares of Norwegian retail gasoline and convenience store network Statoil Fuel & Retail ASA has reached 81.24%.
Couche-Tard also said that it wants to define precisely the settlement dates regarding its Statoil offer for all the issued and outstanding shares of Statoil Fuel & Retail ASA.
The $2.7 billion bid was announced on April 18. The all-cash offer for all the issued and outstanding shares of Statoil is for 51.20 Norwegian Krone ($8.93 U.S.) per share in cash (53.00 Krone [$9.22 U.S.] before dividend of 1.80 Krone paid to shareholders on May 9, 2012).
For shares tendered as of June 12, 2012, settlement will occur on June 19, 2012 as previously communicated. For shares tendered in the period from June 13, 2012 to June 20, 2012, settlement will occur on June 26, 2012.
(Click here for previous CSP Daily News coverage of the deal.)
As of Jan. 29, 2012, Laval, Quebec-based Couche-Tard had a network of 5,817 convenience stores, 4,225 of which include motor fuel dispensing. It supplies motor fuel to 338 sites operated by independent operators. Couche-Tard's network consists of 13 business units, including nine in the United States covering 42 states and the District of Columbia (primarily under the Circle K flag), and four in Canada covering all 10 provinces (primarily under the Mac's and Couche-Tard flags).
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.