Statoil fuel agrees to alimentation

Alimentation Couche-Tard Inc. ANCUF +2.45% CA:ATD.A +2.94% CA:ATD.B +1.39% definitively agreed to acquire Statoil Fuel & Retail ASA NO:SFR +50.94% for 53 Norwegian kroner a share, or 15.9 billion kroner ($2.8 billion). In a Wednesday statement, Alimentation, the Laval, Quebec, convenience-store operator, said that Statoil Fuel & Retail would give it global presence in the industry and a platform for further growth on the Continent. Statoil Fuel & Retail's network spans Scandinavia and the Baltic states and it has a growing presence in Poland, Alimentation said. Statoil Fuel & Retail operates some 2,300 full-service or automated stations; the combined network would have 8,400 locations. The offer price is a 53% premium to the closing price of Statoil Fuel & Retail on Tuesday at 34.75 kroner. Statoil Fuel & Retail's board has approved the terms of the proposal. And its parent company, Statoil ASA,