By Stephen Nakrosis

 

Alimentation Couche-Tard said Thursday it would acquire retail assets in Germany and the Netherlands from TotalEnergies for a purchase price of about 3.1 billion euros ($3.4 billion).

Couche-Tard said it would enter into a definitive agreement after Total Energies accepted its offer following an information and consultation process involving that company's employee representative bodies in Belgium, the Netherlands and Luxembourg.

The deal would see the Canadian company acquire 100% of TotalEnergies retail assets in Germany and the Netherlands, the companies said. The assets include over 1,100 service stations in Germany and almost 400 in the Netherlands.

In Belgium and Luxembourg, the two companies would form a joint venture to operate over 600 service stations. Couche-Tard would hold a 60% stake in the JV, the companies said.

The deal is subject to approval by European regulatory authorities and closing remains on track to occur before the end of this year, the companies said.

 

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

June 22, 2023 17:48 ET (21:48 GMT)

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