Couche-Tard signs U.S. asset-swap deal with CrossAmerica [Toronto Globe and Mail (Ontario, Canada)]
CrossAmerica Partners LP Common Units representing limited partner interests (CAPL)
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Source: Toronto Globe and Mail
MONTREAL The Canadian Press Published December 17, 2018 Updated December 17, 2018 For Subscribers Comments Alimentation Couche-Tard and CrossAmerica Partners LP have signed a deal to swap convenience and gas station assets in the U.S. Under the agreement, Couche-Tard has agreed to sell 192 U.S convenience and fuel retail stores to CrossAmerica, with an aggregate value of about US$184.5 million. Meanwhile, CrossAmerica has agreed to sell Couche-Tard assets valued at US$184.5 million, including the real estate property for 56 U.S. company-operated convenience and fuel retail stores leased and operated by Couche-Tard and 17 stores owned and operated by CrossAmerica in the U.S. Upper Midwest. Story continues below advertisement Couche-Tard says the deal is expected to take place through a series of transactions over a period of up to 24 months.
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