Canadas Couche-Tard in talks on $3.3 billion TotalEnergies stores deal

(Reuters) – Convenience store operator Alimentation Couche-Tard is in exclusive talks to buy some of French energy company TotalEnergies retail assets for 3.1 billion euros ($3.29 billion) in cash, the Canadian company said on Thursday.

The proposed deal would comprise all of the stores at TotalEnergies service stations in Germany and the Netherlands as well as a 60% controlling interest in its stores in Belgium and Luxembourg.

The purchase price of about 3.1 billion euros is on a cash-free, debt-free basis, subject to closing adjustments, the Couche-Tard statement said.

Couche-tard said it plans to fund the deal with available cash along with existing and credit facilities and new debt.

($1 = 0.9422 euros)

(Reporting by Juby Babu in Bengaluru and Dominique Vidalon in Paris,; Editing by David Goodman)