USA: Alimentation Couche-Tard, CrossAmerica Partners close exchange of assets

Couche-Tard transferred to CrossAmerica wholesale fuel supply contracts covering 333 sites and 33 fee and leasehold properties. CrossAmerica transferred to Couche-Tard its 17.5% limited partnership interest in CST Fuel Supply LP.

Alimentation Couche-Tard Inc. and CrossAmerica Partners confirmed the closing of their asset exchange transaction that was originally announced on November 19, 2019.

As part of this transaction, Couche-Tard has transferred U.S. wholesale fuel supply contracts covering 333 sites and 33 fee and leasehold properties, as well as a cash payment of $13 million to CrossAmerica.

In exchange, CrossAmerica has transferred its 17.5% limited partner interest ownership in CST Fuel Supply LP to Couche-Tard, which will now have 100% ownership of the entity.

Couche-Tard has retained its dealer sites in California and those operated through its RDK joint venture, as well as other strategic fuel wholesale assets across different parts of the country.