The European Commission has authorised Canadian multinational Alimentation Couche-Tard to acquire exclusive control over TotalEnergies SE’s retail service stations in Luxembourg, Belgium, Germany and the Netherlands, as well as the related fuel cards activity.
The proposed acquisition, first announced by TotalEnergies in March, involves a total of 1,590 service stations across Germany and the Netherlands, with Germany accounting for 1,198 and the Netherlands 392. Additionally, a joint venture is planned for Belgium and Luxembourg that will manage and operate 619 service stations. Within this joint venture, Couche-Tard will hold a 60% controlling interest, with the remaining 40% retained by TotalEnergies.
Alimentation Couche-Tard, the Canadian convenience and fuel store giant with a vast international presence of over 14,400 stores in 25 countries, confirmed in a press release on Monday 6 November, that the European Commission has sanctioned its bid to purchase specific European retail assets from TotalEnergies. The company anticipates the finalisation of this substantial acquisition by December 2023.
Brian Hannasch, president and CEO of Couche-Tard, stated, “The decision by the European Commission is an important marker in the completion of this acquisition, and I want to thank all involved for their outstanding commitment in getting us to this stage. This game-changing transaction is on track to close by the end of December, and we are truly excited to welcome new team members and stores across these four European countries as we grow together to become the world’s preferred destination for convenience and mobility.”
According to the initial agreement, the service stations across the four countries will continue operating under the TotalEnergies brand for a minimum of five years, provided that TotalEnergies continues to supply the fuel.