CrossAmerica and Alimentation Couche-Tard Announce Agreement for Series of Asset Exchanges
Houston - Paul Hastings, a leading global law firm, announced today that the firm represented CrossAmerica Partners LP, a leading wholesale distributor of motor fuels and owner and lessee of real estate used in the retail distribution of motor fuels as tax counsel in an asset exchange with Alimentation Couche-Tard through its wholly-owned subsidiary Circle K Stores Inc.
The asset exchange involves CrossAmerica’s sale to Couche-Tard of assets valued at approximately $184.5 million, including the real estate property for 56 U.S. company-operated convenience and fuel retail stores currently leased and operated by Couche-Tard, and 17 company-operated convenience and fuel retail stores currently owned and operated by CrossAmerica located in the U.S. Upper Midwest. Couche-Tard has agreed to sell to CrossAmerica 192 convenience and fuel retail stores, having an aggregate value of approximately $184.5 million.
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