Service Stations in Europe: TotalEnergies Closes its Deals with Alimentation Couche-Tard for €3.4 billion
Paris, January 3rd, 2024 – TotalEnergies has completed today the implementation of the agreements signed in March 2023 with Alimentation Couche-Tard (“Couche-Tard”).. The transaction, based on an enterprise value of €3.1 billion (equivalent to more than 15 years of net cash flow on a post-tax basis), was finalized in two steps, on December 28th, 2023, with the transaction related to the network in Germany and on January 3rd, 2024, with the transactions related to the networks in the Netherlands, Luxembourg, and Belgium.
TotalEnergies received a total cash consideration after adjustments and before tax of €3.4 billion (approximately $3.8 billion, including approximately $2.4 billion in December 2023).
As announced, the transaction involved TotalEnergies' retail networks in the following countries:
- In Germany and the Netherlands, TotalEnergies sold 100% of its networks to Couche-Tard.
- In Belgium and Luxembourg, TotalEnergies and Couche-Tard formed a joint venture (TotalEnergies 40%, Couche-Tard 60%).
TotalEnergies will continue to supply fuel to the service stations in these four countries for at least five years, notably from its refineries in Antwerp (Belgium) and Leuna (Germany).
Read the full press release on the TotalEnergies website.
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TotalEnergies is a global multi-energy company that produces and markets energies on a global scale: oil and biofuels, natural gas and green gases, renewables and electricity. Our 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
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