Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  OTC Bulletin Board - Other OTC  >  Alimentation Couche Tard Inc    ANCUF   CA01626P4033

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Alimentation Couche-Tard To Buy Statoil Fuel & Retail For $2.8 Billion

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/18/2012 | 10:22am CEST

-Alimentation Couche-Tard Inc. places offer on Statoil Fuel & Retail in $2.8 billion deal

-Statoil agrees to sell its 54% stake in the fuel retailer

(Rewrites throughout, adds comment, detail)

 
   By Dominic Chopping and Katarina Gustafsson 
   Of  
 

Norwegian oil and gas major Statoil ASA (STO) Wednesday said it will sell its stake in transport fuel retailer Statoil Fuel & Retail ASA (SFR.OS) in a move to increase its focus on its oil and gas exploration and production operations.

Canadian convenience store company Alimentation Couche-Tard Inc. (ATD.A.T) has placed an offer for the fuel retailer in a $2.8 billion deal, valuing the total share capital of Statoil Fuel & Retail at 15.9 billion Norwegian kroner.

Statoil has accepted the bid and will sell its 54% stake in the fuel retailer for NOK8.6 billion ($1.5 billion). The Canadian company will buy the remaining shares at NOK53, a 53% premium to the shares' Tuesday closing price.

At 0712 GMT, shares in Statoil Fuel & Retail traded 51% higher at NOK52.35, pricing in much of the offer premium. Statoil shares were down 0.3% at NOK153.40.

Depending on how the parties decide to finance the deal, it might have an impact on the Norwegian krone, said Erica Blomgren, SEB's head of FX strategy Norway. "The figure is big enough," she said, adding that the EUR-NOK moved down a little shortly after the announcement, but the currency pair then moved back as market participants await more information on the deal.

Statoil Chief Financial Officer Torgrim Reitan said the price is attractive and "the offer, which is recommended by the board and management of Statoil Fuel & Retail, provides a good outcome for all parties."

Danske Bank analyst Endre Storlokken said the sale makes sense, but it's not that big of a deal from Statoil's perspective. "Operationally for Statoil, this has not that great an importance," he said. "But it's positive that this happens; it frees up capital."

Statoil established Statoil Fuel & Retail as a separate company listed on the Oslo Stock Exchange in 2010.

The parties expect to complete the transaction during the second quarter of 2012.

-By Dominic Chopping; Dow Jones Newswires; +46-8-5451-3093; dominic.chopping@dowjones.com

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ALIMENTATION COUCHE TARD I
08/11 CROSSAMERICA PARTNERS LP : Holly Pond's Jet Pep selling off assets in multi-mill..
07/20 ALIMENTATION COUCHE TARD : prices private offerings of senior unsecured notes.
07/20 ALIMENTATION COUCHE-TARD INC. : prices private offerings of Senior Unsecured Not..
07/19 ALIMENTATION COUCHE TARD INC (USA) : ex-dividend day
07/17 ALIMENTATION COUCHE TARD : Announces proposed private offerings of senior unsecu..
07/14 ALIMENTATION COUCHE-TARD INC. : announces proposed private offerings of Senior U..
07/12 ALIMENTATION COUCHE TARD : Couche-Tard adjusted profit, total revenue soar in it..
07/12 ALIMENTATION COUCHE TARD : announces its results for its fourth quarter and fisc..
07/11 ALIMENTATION COUCHE TARD : Circle K parent to buy Holiday stations
07/11 ALIMENTATION COUCHE TARD : Holiday stores to be sold to Canadian firm
More news
Financials ($)
Sales 2018 47 715 M
EBIT 2018 2 212 M
Net income 2018 1 594 M
Debt 2018 6 342 M
Yield 2018 0,72%
P/E ratio 2018 17,26
P/E ratio 2019 14,76
EV / Sales 2018 0,71x
EV / Sales 2019 0,61x
Capitalization 27 526 M
Chart ALIMENTATION COUCHE TARD I
Duration : Period :
Alimentation Couche Tard I Technical Analysis Chart | ANCUF | CA01626P4033 | 4-Traders
Income Statement Evolution
Consensus
 
Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 59,7 $
Spread / Average Target 24%
EPS Revisions
Managers
NameTitle
Brian P. Hannasch President, Chief Executive Officer & Director
Alain Bouchard Executive Chairman
Darrell Davis Senior Vice President-Operations
Geoffrey C. Haxel Senior Vice President-Operations
Dennis J. Tewell Senior Vice President-Operations
Sector and Competitors
1st jan.Capitalization (M$)
ALIMENTATION COUCHE TARD INC6.54%27 526
WAL-MART STORES14.74%240 433
ALIMENTATION COUCHE TARD INC-0.59%27 526
CARREFOUR-10.94%18 571
WHOLE FOODS MARKET, INC.35.66%13 364
DAIRY FARM INTERNATIONAL HOLDINGS LTD9.32%10 468