The Canadian convenience store operator has received approval from the European Commission for its deal to acquire A/S Dansk Shell’s downstream retail business in Denmark.
In March 2015, Couche-Tard announced an agreement with A/S Dansk Shell to acquire its retail, commercial fuels and aviation businesses in Denmark. Shell’s Danish retail business comprises 315 sites, of which 225 are full-service stations, 75 are unmanned automated fuel stations and 15 are truck stops. Of the 315 sites, 140 are owned by Shell, 115 are leased from third parties and 60 are dealer-owned.
Since then, Couche-Tard has worked closely with the European Commission with the aim of obtaining approval for the transaction as compatible with Europe’s internal market and with the European Economic Area Agreement. It has received approval to retain 131 sites, of which 90 are owned and 41 are leased from third parties. Of these 131 sites, 74 are full-service stations, 49 are unmanned automated fuel stations and eight are truck stops.
Subsequent to this transaction, Couche-Tard’s network in Denmark would include a total of 286 company-operated stores, 153 company-owned and dealer-operated and 44 dealer-owned and dealer-operated. Included therein are 211 unmanned automated sites.
Couche-Tard has proposed to divest a mix of both its current sites and Shell-branded stations, including the Shell/7-Eleven network and Shell’s dealer-owned network. In addition, Couche-Tard has proposed divesting A/S Dansk Shell’s commercial and aviation fuels businesses.
“The acquisition from Dansk Shell puts us in a strong position in the Danish market – a core market for Couche-Tard in Europe,” Couche-Tard Group President Europe Jacob Schram said.