ANCTF - Alimentation Couche-Tard to buyback C$700M of its stock from CDPQ

2023-07-31 09:30:46 ET

• Alimentation Couche-Tard ( TSX: ATD:CA ) will repurchase C$700 million worth of its stock from Caisse de dépôt et placement du Québec, the company said Monday.

• The company will repurchase 10.8 million common shares at C$64.69 per share.

• The repurchased shares will be cancelled.

• The repurchase price represents a discount of 3% to the closing price of the shares on the Toronto Stock Exchange on July 28, 2023.

• The company will use its cash on hand as well as proceeds raised through its U.S. Commercial Paper Program to complete the repurchase.

• The repurchase will be made in connection with the periodic portfolio rebalancing of CDPQ.

• Once the repurchase is completed, CDPQ will hold about 41.5 million shares, representing about 4.3% of Couche-Tard's total shares outstanding.

• Press Release .

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