Alimentation Couche-Tard becomes principal owner of Statoil Fuel & Retail
LAVAL, QC, June 19, 2012 /PRNewswire/ - Alimentation Couche-Tard Inc. ("Couche-Tard") (TSX: ATD.A ATD.B) has today, through its wholly owned subsidiary Couche-Tard Norway AS, become owner of 243,593,717 shares, equal to 81.20% of the issued and outstanding shares, in Statoil Fuel & Retail ASA ("SFR") (Oslo Børs/SFR), and thereby triggered a mandatory offer obligation for all the issued and outstanding shares in SFR as provided for under section 6-1 in the Norwegian Securities Trading Act. The above shares are the shares tendered up to and including June 12, 2012 under Couche-Tard Norway AS' voluntary offer for all the issued and outstanding shares in SFR.
The acceptance period for the voluntary offer expires on June 20, 2012 at 17.30 CET, and settlement for shares tendered under the voluntary offer in the period from June 13, 2012 through June 20, 2012 at 17.30 CET, will occur on June 26, 2012.
Should the acceptance level reach 90% under the voluntary offer expiring on June 20, 2012 at 17.30 CET, Couche-Tard Norway AS will as soon as possible (at the latest on July 24, 2012) and as provided for in the Norwegian Securities Trading Act section 6-22 (3), initiate a compulsory acquisition (squeeze-out) of any shares not tendered or held by Couche-Tard Norway AS without presenting a mandatory offer. The notice period for the compulsory acquisition will be two months from Couche-Tard Norway AS has made public its notification initiating the process, and settlement will be made promptly after expiry of the two-month period. The offer price in the compulsory acquisition will equal the offer price in the voluntary offer of NOK 51.20.
Should the said 90% threshold not be reached before the expiry of the voluntary offer, Couche-Tard Norway AS will as soon as possible and at the latest within four weeks from today present a mandatory offer for all the issued and outstanding shares in SFR not already having been acquired by Couche-Tard. The mandatory offer will have an acceptance period of four weeks and the offer price in the mandatory offer will equal the offer price in the voluntary offer of NOK 51.20, the latter representing Couche-Tard's best and final offer.
For questions regarding the voluntary or mandatory offer, please contact:
Nordea Bank Norway ASA, Issuer Services
Tel: +47 22 48 62 62
Fax: +47 22 48 63 49
About Alimentation Couche-Tard Inc.
Alimentation Couche-Tard Inc. is the leader in the Canadian convenience store industry. In North America, Couche-Tard is the largest independent convenience store operator (whether integrated with a petroleum corporation or not) in terms of number of company-operated stores. As of January 29, 2012, Couche-Tard had a network of 5,817 convenience stores, 4,225 of which include motor fuel dispensing. At the same date, the Corporation had agreements for the supply of motor fuel to 338 sites operated by independent operators. Couche-Tard's network consists of 13 business units, including nine in the United States covering 42 states and the District of Columbia, and four in Canada covering all ten provinces. More than 53,000 people are employed throughout Couche-Tard's retail convenience network and service centers.
For more information on Alimentation Couche-Tard, please visit: http://www.couchetard.com/corporate/
The statements set forth in this news release, which describe Couche-Tard's objectives, projections, estimates, expectations or forecasts, may constitute forward-looking statements within the meaning of securities legislation. Positive or negative verbs such as "will", "plan", "evaluate", "estimate", "believe", "expect" and other related expressions are used to identify such statements. Couche-Tard would like to point out that, by their very natures, forward-looking statements involve risks and uncertainties such that its results, or the measures it adopts, could differ materially from those indicated or underlying these statements, or could have an impact on the degree of realization of a particular projection. Major factors that may lead to a material difference between Couche-Tard's actual results and the projections or expectations set forth in the forward-looking statements include the effects of the integration of acquired businesses and the ability to achieve projected synergies, fluctuations in margins on motor fuel sales, competition in the convenience store and retail motor fuel industries, exchange rate variations, and such other risks as described in detail from time to time in documents filed by Couche-Tard with securities regulatory authorities in Canada. Unless otherwise required by applicable securities laws, Couche-Tard disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking information in this news release is based on information available as of the date of the release.
SOURCE ALIMENTATION COUCHE-TARD INC.