Mar. 27, 2024 - Substantial amendments to the Investment Canada Act (ICA) were enacted on March 22, 2024, with the passing of Bill C-34, the National Security Review of Investments Modernization Act. These amendments, long in the works, will come into effect on a date to be fixed by Cabinet. It...
Announcement
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).
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Mar. 13, 2024 - The Canadian government recently issued two policy statements (IDM Statements) affirming that it will enhance its scrutiny under the Investment Canada Act (ICA) of foreign investments in the Canadian Interactive Digital Media (IDM) sector. One of the statements sets out the...
