Under the deal, Couche-Tard would buy all of TotalEnergies’ service stations in Germany and the Netherlands, as well as purchasing a 60% stake in the French company’s stations in Belgium and Luxembourg
for $3.3-billion as part of plans to turn them into food and services hubs, the companies said on Thursday.
The companies said that under the deal the Canadian firm would buy all of TotalEnergies’ service stations in Germany and the Netherlands, as well as purchasing a 60 per cent stake in the French company’s stations in Belgium and Luxembourg.“Service stations must expand from just selling fuel to become fully-fledged service hubs,” TotalEnergies CEO Patrick Pouyanne said in a joint statement.
The transaction will help TotalEnergies meet a target of reducing its petroleum product sales by 30 per cent by 2030 so that its fuel sales and refining throughput do not exceed its oil production, the company said.