WASHINGTON (Reuters) - Alimentation Couche-Tard Inc (>> Alimentation Couche Tard Inc) has won U.S. antitrust approval to buy rival CST Brands Inc (>> CST Brands Inc) on condition that it sell up to 71 stores in eight states, the Federal Trade Commission said on Monday.
Alimentation Couche-Tard, a big Canada-based chain of convenience stores and gas stations, said in August that it would buy the smaller CST, which has the Corner Store markets, for some $4.4 billion.
Couche-Tard shares rose 2.8 percent on the approval to C$63.09 in early afternoon trading on the Toronto Stock Exchange. CST edged up 0.4 percent to $48.54 on the New York Stock Exchange.
As of late January, Couche-Tard had 8,081 convenience stores in North America, including 6,710 which sold fuel, the company said in a news release.
The FTC required the companies to sell 70 fuel stations with convenience stores to Empire Petroleum Partners
Empire also has the option to buy a gas station in Albany, Georgia, the FTC said.
Alimentation Couche-Tard, which is still seeking antitrust clearance in Canada, said in a statement that it expected the deal to close on June 28.
(Reporting by Diane Bartz; Editing by Richard Chang)
By Diane Bartz