Jan. 21, 2020 - In our annual forecast of the year ahead for Canadian competition and foreign investment review law, we evaluate how developments in 2019 will influence these areas of the law in 2020. We discuss below the main issues and trends to watch for this year. Continued Focus on Enforcement in the...
Couche-Tard Acquiring CST Brands for US$4.4 Billion
Davies represented Alimentation Couche-Tard Inc. (ACT), a leader in the Canadian convenience store industry, in its acquisition of CST Brands, Inc. for US$4.4 billion and its subsequent sale of a portion of CST Brands’ Canadian assets to Parkland Fuel Corporation for US$750 million.
The acquisition positioned ACT as the largest retail fuel and convenience store owner and operator in North America and the second largest in the world behind 7-Eleven. After closing on June 28, 2017, ACT became one of the largest Canadian companies by revenue.
The Davies team on this transaction included Sébastien Thériault, Richard Cherney, Véronique Gaumond-Carignan (M&A); Olivier Désilets and Christine Lenis (Capital Markets); Andrea Dupuis, Shayna Goldman and Alyssa Wiseman (Corporate); George Addy, Adam Fanaki, Charles Tingley, Badar Yasin, David Feldman and Alysha Manji-Knight (Competition); Marie-Emmanuelle Vaillancourt (Tax); and Louise Patry (Employment).
Jan. 15, 2020 - The official Annual Report under the Investment Canada Act (ICA) for the fiscal year 2018-19 was released at the end of 2019. This document sets out various statistics and other noteworthy developments during that time frame (i.e., April 1, 2018 to March 31, 2019) relating to the two...