Alimentation Couche-Tard's newly named Couche-Tard Norway division receives clearance from Denmark, gets confirmation that decisions from Russia, Poland will come by June 20, clearing way for acquisition of Statoil Fuel & Retail
May 21, 2012
– Alimentation Couche-Tard Inc. ("Couche-Tard") (TSX: ATD.A ATD.B) today announces that Couche-Tard Norway ASA has received the necessary clearance for Denmark on May 16, 2012 and has obtained confirmation from the competition authorities in Russia and Poland that decisions will be rendered at the latest by May 24 and June 20, respectively. With respect to Poland competition authorities, Couche-Tard believes that clearance could be obtained prior to June 20.
Therefore, Couche-Tard Norway ASA is waiving the condition relating to the Approvals and Consents from Governmental Authorities as indicated in the Offering Document dated April 20, 2012 section 5.3(e) (page 29) regarding its offer on acquiring all the issued and outstanding shares of Statoil Fuel & Retail ASA (SFR/Oslo Børs) ("Statoil Fuel & Retail") for NOK 51.20 per share in cash (NOK 53.00 before reduction for the dividend of NOK 1.80 paid to shareholders on May 9th, 2012). The Acceptance Period for Couche-Tard's offer will be ending this May 21st at 17:30 CET. All other terms and conditions of the offer remain unchanged, including the 90% acceptance condition.
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.
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.