Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Paydowns > Headlines for Altivity Packaging, LLC > News item |
Couche-Tard to use new term loan, draw on credit facilities to buy CST
By Tali Rackner
Norfolk, Va., Aug. 22 – Alimentation Couche-Tard Inc. plans to use existing credit facilities and a new term loan, along with available cash, to finance its merger with and acquisition of CST Brands, Inc., according to a press release.
Couche-Tard will acquire all of the shares of CST for $48.53 per share in cash, representing a total enterprise value of about $4.4 billion, including the assumption of net debt.
The transaction is expected to close in early 2017.
The company will then sell certain Canadian assets of CST to Parkland Fuel Corp for about $750 million.
Alimentation Couche-Tard is a Quebec-based convenience store operator. CST is San Antonio-based independent North American retailer of transportation fuels and convenience merchandise.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.