(News Bulletin 247) – TotalEnergies and the Canadian leader in convenience stores Alimentation Couche-Tard have signed agreements relating to the networks of TotalEnergies service stations in 4 European countries.
In Belgium and Luxembourg, TotalEnergies and Couche-Tard will join forces in a joint venture which will operate 619 stations. The partnership with Couche-Tard will accelerate the transformation of these two networks by maximizing their sales excluding petroleum fuels.
In Germany and the Netherlands, TotalEnergies will transfer all of its service station networks to Couche-Tard, ie 1,198 stations in Germany and 392 in the Netherlands. TotalEnergies will focus on the development of new forms of mobility (electric and hydrogen) in these countries.
The proposed transaction, which is based on an enterprise value of 3.1 billion euros, relates to service station networks and fuel card activities for professional customers.
TotalEnergies will retain the off-station electric charging activities, hydrogen distribution, wholesale fuel sales and the network of AS24 stations for heavy goods vehicles.
The objective of TotalEnergies and Couche-Tard is to finalize the transaction before the end of 2023.
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