FAS allows Couche-Tard Norway to manage Statoil retail unit in Russia
MOSCOW. May 30 (Interfax) - The Russian Federal Antimonopoly Service (FAS) has given permission to investment company Couche-Tard Norway to manage the Statoil retail business in Russia.
FAS said in a press release that it had approved the acquisition by the Norwegian company of rights enabling it to manage LLC Statoil Energy and Retail Russia (Murmansk), LLC Statoil Nefto (St. Petersburg) and LLC Statoil Retail Operations (St. Petersburg) as a result of the purchase of 100% of Statoil Fuel & Retail ASA, which owns these companies.
Statoil Fuel & Retail ASA operates Statoil filling stations in Russia, Scandinavia, Poland and the Baltic states, where it has 2,300 filling stations.
It was reported earlier that Canadian retailer Alimentation Couche-Tard Inc. planned to acquire Statoil Fuel & Retail ASA and had made the relevant offer to the shareholders of the Statoil subsidiary. Couche-Tard is offering 53 Norwegian krone per share or 15.9 billion krone ($2.8 billion) for the entire company.
The deal envisages acquisition of the 54% of Statoil shares in Statoil Fuel & Retail and the purchase of shares in circulation. The board of Statoil Fuel & Retail recommended shareholders accept the offer from Couche-Tard and Statoil agreed to sell its stake.
Alimentation Couche-Tard owns one of the largest company-owned convenience store operators in the world with over 5,800 stores, of which 4,225 are combined with gas stations.