Couche-Tard's $2.8B Bid Snags Statoil Convenience Store Arm

Law360, New York (April 18, 2012, 2:06 PM EDT) -- Canadian convenience store leader Alimentation Couche-Tard Inc. has inked a deal to acquire Norway's Statoil Fuel & Retail ASA for 15.9 billion kroner (US$2.8 billion), Couche-Tard said Wednesday, making it the top convenience store operator in Scandinavia with a growing presence in Eastern Europe.

The cash offer of 53 kroner per share of convenience and fuel retailer SFR represents a 52.5 percent premium over Tuesday's closing price of 34.75 kroner, according to a statement Couche-Tard issued Wednesday.

Norwegian fuel giant Statoil ASA, which holds a controlling...
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