- Investment vehicles controlled by
Joe Topper , founder ofCrossAmerica , yesterday acquired fromAlimentation Couche-Tard all the interests inCrossAmerica's General Partner, and all incentive distribution rights and approximately 7.5 million limited partner units ofCrossAmerica Joe Topper returns as Chairman of the Board of Directors ofCrossAmerica's General PartnerCrossAmerica andAlimentation Couche-Tard also agree to an additional exchange of assets expected to close in first quarter 2020
Key Details
Joe Topper , founder ofCrossAmerica , returns as Chairman of the Board of Directors ofCrossAmerica's General Partner- The transaction does not involve any capital outlay by
CrossAmerica , nor any change in CrossAmerica’s capital structure - Previously announced asset exchange transaction between
CrossAmerica and Couche-Tard, originally announced inDecember 2018 , to remain unaffected
As part of their joint announcement, Couche-Tard and
The Asset Exchange agreement announced today was approved by the Board of Directors of CrossAmerica’s General Partner, following the approval of the terms of the transaction by its independent Conflicts Committee. The Conflicts Committee was advised by
About
Forward Looking Statement
Statements contained in this release that state the Partnership’s or management's expectations or predictions of the future are forward-looking statements. The words "believe," "expect," "should," "intends," "estimates," "target," "plan" and other similar expressions identify forward-looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements. For more information concerning factors that could cause actual results to differ from those expressed or forecasted, see
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Source: CrossAmerica Partners