Alimentation Couche-Tard Is Buying CST Brands for $3.67 Billion by Reuters @FortuneMagazine August 22, 2016, 10:03 AM EDT E-mail Tweet Facebook Linkedin Share icons Canadian convenience store operator Alimentation Couche-Tard said it would buy U.S. convenience store retailer CST Brands cst for about $3.67 billion, as the company looks to strengthen its U.S. operations. Couche-Tard is offering CST Brands shareholders $48.53 per share in cash, a premium of 2.15% to the stock’s Friday close. However, the offer represents a premium of 41.9% to CST’s closing price on March 3, the last trading day before the company said it would explore strategic alternatives. Including debt, the deal is valued at about $4.4 billion, the company said. “With this transaction we would strategically strengthen our positioning in both the “sun belt” and the east coast of North America,” Couche-Tard Chief Executive Brian Hannasch said in a statement. Sun Belt refers to the region that stretches across the southern and southwestern portions of the United States. Couche-Tard said it would sell some Canadian assets of CST to Parkland Fuel for about $750 million, after the deal closes, expected in early 2017. The assets include CST’s self-service fueling stations, commercial and home energy business, and a number of company-operated stores to be determined following the Competition Bureau of Canada’s review of the transaction. Couche-Tard said it will finance the deal with available cash, existing credit facilities and a new term loan.