Metro to sell majority stake in Couche-Tard for $1.5 bln: Reuters
Canada’s Metro Inc said it would sell a major portion of its stake in Alimentation Couche-Tard Inc to fund its $4.5 billion acquisition of pharmacy chain Jean Coutu Group Inc, Reuters reported. The company will sell its stake in three separate deals for about $1.5 billion. About 11.4 million Couche-Tard shares will be sold to dealers led by National Bank Financial and BMO Capital Markets as book-runners to raise $650 million, while an equal portion will be sold to the units of Caisse de dépôt et placement du Québec. Metro also said it would sell about 4.4 million shares back to Laval, Québec-based Couche-Tard for about $250 million.
12 October 2017•1 min read
