Couche-Tard sells aviation fuel business
Sept. 3, 2014, Laval, Que. - Alimentation Couche-Tard Inc. says it has an agreement to sell its Europe-based aviation fuel business to Air BP, one of the world's largest suppliers of aviation fuel products and services.
September 3, 2014 By The Canadian Press
Financial terms of the deal to sell Statoil Fuel & Retail Aviation weren't released on Wednesday, but the sale will be done through a share purchase agreement.
The deal, subject to standard regulatory approvals, is expected to be completed by the end of 2014.
Statoil Fuel & Retail Aviation supplies fuel products to airliners, general aviation, military and bulk customers in nine countries across Northern Europe.
BP Air says the deal will add about 73 new airports in northern Europe to its 600-strong global fuels network. About 59 Statoil Fuel & Aviation employees, based in Norway, Sweden and Denmark, are expected to join Air BP. Air BP, the aviation division of BP, has more than 1,100 employees.
Couche-Tard has a network of more than 6,200 convenience stores throughout North America, including 4,478 stores with fuel dispensing services, and employs more than 60,000.
In Europe, Couche-Tard operates a retail network across Norway, Sweden, Denmark, Poland, Estonia, Latvia, Lithuania and Russia, comprised 2,250 stores of which the majority offer fuel and convenience products, while the others are automated service-stations which offer road transportation fuel only.
Couche-Tard operates key fuel terminals and fuel depots in eight countries. Including employees at Statoil branded franchise stations, about 17,500 people work in its retail network, terminals and service offices across Europe.