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Alimentation Couche-Tard Inc T.ATD

Alternate Symbol(s):  ANCTF

Alimentation Couche-Tard Inc. is engaged in convenience and mobility, operating in about 29 countries and territories, with more than 16,700 stores, of which almost 13,100 offer road transportation fuel. With its Couche-Tard and Circle K banners, the Company is an independent convenience store operator in the United States, and it is engaged in the convenience store industry and road transportation fuel retail in Canada, Scandinavia, the Baltics, as well as in Ireland. It also has a presence in Poland, Hong Kong Special Administrative Region of the People's Republic of China, Belgium, Germany, Luxembourg, and the Netherlands. Its North American network consists of about 17 business units, including 14 in the United States covering 47 states and three in Canada covering all 10 provinces. In Europe, it operates a broad retail network across Scandinavia, Ireland, Poland, and the Baltics through seven business units. Its operating brands include Circle K, Couche-Tard, and Ingo.


TSX:ATD - Post by User

Post by Dibah420on Oct 03, 2024 5:31pm
124 Views
Post# 36252401

Market Chatter

Market Chatter
Market Chatter: 7-Eleven Owner Seeking to Sell Off Part of Stake in Banking Unit
MT Newswires - Oct 03, 2024 7:59 AM EDT

07:59 AM EDT, 10/03/2024 (MT Newswires) -- Seven & i Holdings Co., the convenience-store operator facing a takeover approach from Canada's Alimentation Couche-Tard Inc. (ATD.TPO), is exploring the sale of part of its stake in Seven Bank Ltd., people with knowledge of the matter said, Bloomberg is reporting Thursday.

The move is intended to show the retailer is willing to focus more on its core 7-Eleven business, said the people, asking not to be identified because the plans aren't yet public. The bank, which has become an important part of the retailer's business in Japan over the past two decades, would no longer be accounted for as a subsidiary, the people added. Deliberations are ongoing and a final decision hasn't been made, one of the people said.

Bloomber noted Seven & i is facing pressure to show that it can command a higher valuation for its business, whether in negotiations or through its own efforts. The 7-Eleven owner asserted last month that Couche-Tard's initially indicated offer of $14.86 a share didn't fully reflect the company's worth.

A representative for Seven Bank declined to comment. A spokesperson for Seven & i wasn't immediately able to comment.

(Market Chatter news is derived from conversations with market professionals globally, and/or from other media sources. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

 
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