Couche-Tard Lands Deal To Buy Certain European Assets Of TotalEnergies For €3.1B - Aion Therapeutic (OTC:ANTCF), TotalEnergies (NYSE:TTE)

Canadian convenience store operator Alimentation Couche-Tard ANTCF has signed agreements covering TotalEnergies SE's TTE retail networks in four European countries.
The proposed acquisition would comprise 100% of TotalEnergies retail assets in Germany and the Netherlands and a 60% controlling interest in the Belgium and Luxembourg entities.
The planned transaction, based on an enterprise value of €3.1 billion, covers the service station networks and the B2B fuel card activities.
The deal includes 2,193 sites located in Germany, Belgium, Netherlands and Luxemburg.
In Belgium and Luxembourg, TotalEnergies and Couche-Tard will form a 40-60 joint venture, owning and operating 619 service stations.
In Germany and the Netherlands, TotalEnergies will sell 100% of its networks to Couche-Tard, including 1,198 service stations in Germany and 392 in the Netherlands.
TotalEnergies will retain its activities related to off-station electric vehicle charging, hydrogen retail and wholesale fuel business, and the AS 24 service station network for trucks.
For calendar 2022, EBITDA was €500 million for the entities covered by this proposed transaction.
This deal supports TotalEnergies' goal of being a multi-energy corporation and its vision to help society achieve net zero by 2050.
The transaction is expected to close by the end of 2023.
Alimentation Couche-Tard has access to $3.7 billion through its available cash and operating credit facility as of January 29, 2023.
Price Action: TTE shares are trading lower by 1.15% at $56.69 in premarket on Thursday.

Market News and Data brought to you by Benzinga APIs