Circle K gets approval to acquire TotalEnergies’ European assets
Published on: Nov 17, 2023
The Canadian convenience-store operator said it expects the deal to close in December.
Alimentation Couche-Tard can complete its purchase of TotalEnergies' European retail assets after the company received a decision from the European Commission not to oppose the deal.
The Canadian convenience-store operator said it expects the deal to close in December.
As previously announced on March 16, 2023, the acquisition comprises 100% of TotalEnergies retail assets in Germany and the Netherlands as well as a 60% controlling interest in the Belgium and Luxembourg entities.
"This game-changing transaction is on track to close by the end of December, and we are truly excited to welcome new team members and stores across these four European countries as we grow together to become the world's preferred destination for convenience and mobility," said Brian Hannasch, President, and CEO of Couche-Tard.
The Germany and the Netherlands retail assets includes more than 1,500 service stations.
In Belgium and Luxembourg, the companies will form a joint venture to operate more than 600 services stations, with Couche-Tard holding a majority stake.
