Skip to main content

A dog named Roxy waits outside a Couche-Tard convenience store in Montreal, April 18, 2012.

CHRISTINNE MUSCHI/REUTERS

You don't see Alimentation Couche-Tard Inc. in the market very often, so the firm didn't hold back when issuing $300-million in new class B shares.

The logic behind this one isn't hard to decipher. Since March 1, the stock is up a stunning 55 per cent, so the issue is inexpensive for Couche-Tard.

Most of the stock's rapid appreciation came after the company announced in April that it would acquire Statoil Fuel & Retail ASA for $2.8-billion (U.S.), expanding its footprint into Europe. That deal was paid for using existing credit facilities and a new 3-year $3.2-billion acquisition credit facility.

Story continues below advertisement

Couche-Tard's new funds will be put toward paying down a portion of its long-term debt.

Tuesday's bought deal came at a 2.3 per cent discount and was co-led by National Bank Financial, Scotia Capital, UBS Securities and HSBC Securities.

Report an error Editorial code of conduct
Tickers mentioned in this story
Unchecking box will stop auto data updates
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies