Alimentation Couche-Tard reiterates its best and final offer for all the shares of Statoil Fuel & Retail
LAVAL, QC, June 11, 2012 /PRNewswire/ - Alimentation Couche-Tard Inc. ("Couche-Tard") (TSX: ATD.A ATD.B) announces that its all-cash offer for all the issued and outstanding shares of Statoil Fuel & Retail ASA (SFR/Oslo Børs) ("Statoil Fuel & Retail") for NOK 51.20 per share (NOK 53.00 per share before the dividend of NOK 1.80 per share paid to shareholders on May 9th, 2012) is and will remain its best and final offer.
"We understand that certain investors and shareholders of Statoil Fuel & Retail could believe we may eventually increase our offer. Considering we will be settling on June 19 any shares validly tendered by tomorrow, we thought it would prove important to clarify any remaining misperception or misunderstanding with respect to our intentions. As such, we underscore and reiterate that our message remains consistent and therefore, our NOK 51.20 cash offer will remain our best and final proposal, whether under the Voluntary Offer or any subsequent processes, including but not limited to a Mandatory Offer that could occur after the Acceptance Period of the Voluntary Offer ending June 20, 2012, presuming we do not reach the 90% tendering level.
That being said, we are very confident that we will reach such threshold by June 20, 2012 considering our cash offer has become even more attractive in the context of increasingly challenging market conditions and mostly because of the momentum we have recently witnessed with some key shareholders of Statoil Fuel & Retail's who have decided to tender their shares so as to benefit from a rapid settlement." indicated Couche-Tard's Vice-President and Chief Financial Officer, Raymond Paré.
For questions regarding the 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.