Couche-Tard to draw on credit facilities for C$1.69 billion purchase

By Wendy Van Sickle

Columbus, Ohio, March 8 – Alimentation Couche-Tard Inc. will borrow under its existing credit facilities to fund part of its acquisition of a portfolio of convenience store properties, according to a press release.

The company is set to buy 279 Esso-branded fuel and convenience store sites in Ontario and Quebec that are owned or leased by Imperial Oil for C$1.69 billion. Couche-Tard will also use available cash for the transaction, which is expected to close within six months.

Alimentation Couche-Tard is a Quebec-based convenience store operator.

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