Cst Brands
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Canadian firm to buy Texas-based CST brands in $4.4-billion deal
Canadian convenience store operator Alimentation Couche-Tard said on Monday it would buy US convenience store chain CST Brands in a deal valued at about $4.4 billion, boosting its presence in southeast United States.San Antonio, Texas-based CST is one of the largest publicly traded fuel retailers in North America and also controls the general partner of gas station company CrossAmerica Partners.The company, spun off from Valero Energy in 2013, also operates convenience stores and gas stations in Canada."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 on Monday.Sun Belt refers to the region that stretches across the southern and south-western portions of the United States.Couche-Tard will offer CST Brands shareholders $48.53 per share in cash, a premium of 2.15 per cent to the stock's on Friday close.However, the offer represents a premium o
