ATD.A, ATD.B / TSX
LAVAL, QC, Dec. 21 /CNW Telbec/ - Alimentation Couche-Tard Inc. announces
that it has entered into, through its subsidiaries Circle K Stores Inc. and
Mac's Convenience Stores LLC., a sale and leaseback transaction with Cole
Capital relating to 83 properties sold for total gross selling price of
US$131.4 million. The proceeds will be used for namely reduce Couche-Tard's
term revolving unsecured operating credit.
Sold properties are located in several States and are subject to leases
agreements with an initial average term of 20 years to which are attached
renewal options for an additional 45 years.
"I am very satisfied with this transaction which is part of our long term
financing plan and improves our short term financial leverage", indicated
Richard Fortin, Executive Vice-President and Chief Financial Officer.
Alimentation Couche-Tard Inc. is the leader in the Canadian convenience
store industry. In North America, Couche-Tard is the second largest
independent convenience store operator (whether integrated or not with a
petroleum company) in terms of number of stores. Couche-Tard's network is
comprised of 5,637 convenience stores, 3,434 of which include motor fuel
dispensing, located in nine large geographic markets, including six in the
United States covering 29 States and three in Canada covering six provinces.
Some 45,000 people are employed throughout Couche-Tard's retail convenience
network and executive offices.
The statements set for the in this press release, which describes
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 "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 projections. 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 the reports filed by Couche-Tard with securities authorities
in Canada and the United States. 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 release is based on information available as of the date of the release.
For further information:
For further information: Richard Fortin, Executive Vice-President and
Chief Financial Officer, (450) 662-3272, email@example.com,