Alimentation Couche-Tard Web Site - December 21, 2007
Alimentation Couche-Tard Inc., Canada's leading convenience store operator with over 5,600 stores, announces that it has entered into, through its subsidiaries Circle K Stores Inc. and Mac’s Convenience Stores LLC., a sale and leaseback transaction with Cole Credit Property Trust II, Inc. relating to 83 properties sold for total gross selling price of US$131.4 million. The proceeds will be used for namely reduce Couche-Tard’s term revolving unsecured operating credit. Sold properties are located in several States and are subject to leases agreements with an initial average term of 20 years to which are attached renewal options for an additional 45 years.
“I am very satisfied with this transaction which is part of our long term financing plan and improves our short term financial leverage”, indicated Richard Fortin, Executive Vice-President and Chief Financial Officer.
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Monday, December 24, 2007
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