Discount Stores

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CST Brands Inc and CrossAmerica Partners LP announce acquisition of Landmark Stores; First Dropdown Transaction

Wednesday, 17 Dec 2014 08:00am EST

CST Brands Inc and CrossAmerica Partners LP:Says they have agreed to jointly purchase 22 convenience stores in San Antonio and Austin, Texas from Landmark Industries, the third combined acquisition in less than three months.CrossAmerica will be purchasing all of the 22 fee sites as well as certain wholesale fuel distribution assets for $43.5 mln.Says CST Brands will be purchasing the personal property, working capital and the convenience store operations for $20.2 mln.CrossAmerica has agreed to acquire 5 pct of the limited partner interests in CST Fuel Supply LP (CST's wholesale fuel supply business) for a total consideration of $50.4 mln effective Jan. 1, 2015.Says CST Brands will receive about 1.5 mln newly issued common units from CrossAmerica as consideration for this transaction.Says CrossAmerica's conflicts committee has approved the final allocation of the purchase price paid in the previously announced acquisition of Nice N Easy Grocery Shoppes and related franchise business.Says total consideration paid by CrossAmerica was reduced to $53.6 mln for the real property and wholesale fuel supply assets.Says total consideration paid by CST Brands for personal property, working capital, convenience store operations and franchise operations was adjusted to $24.4 mln.

Dollar General Corp affirms commitment to acquisition of Family Dollar Stores Inc

Wednesday, 19 Nov 2014 03:13pm EST

Dollar General Corp:Affirmed commitment to acquisition of Family Dollar Stores Inc.Dollar General is actively engaged in discussions with Federal Trade Commission regarding extent of potential divestitures that would be required in connection with acquisition of Family Dollar and has been making progress.Dollar General will continue to work with the FTC and expects to provide update in coming weeks to allow Family Dollar shareholders sufficient time to review such information prior to Family Dollar shareholders' meeting scheduled for Dec. 23.Goldman, Sachs & Co. is acting as financial advisor to Dollar General. KKR Capital Markets and MCS Capital Markets are advising Dollar General on financing.Simpson Thacher & Bartlett LLP is acting as legal counsel.

Dollar General Corp affirms commitment to acquisition of Family Dollar Stores Inc

Wednesday, 19 Nov 2014 03:13pm EST

Dollar General Corp:Affirmed commitment to acquisition of Family Dollar Stores Inc.Dollar General is actively engaged in discussions with Federal Trade Commission regarding extent of potential divestitures that would be required in connection with acquisition of Family Dollar and has been making progress.Dollar General will continue to work with the FTC and expects to provide update in coming weeks to allow Family Dollar shareholders sufficient time to review such information prior to Family Dollar shareholders' meeting scheduled for Dec. 23.Goldman, Sachs & Co. is acting as financial advisor to Dollar General. KKR Capital Markets and MCS Capital Markets are advising Dollar General on financing.Simpson Thacher & Bartlett LLP is acting as legal counsel.

Distribuidora Internacional de Alimentacion to buy 160 stores from Eroski Group for 146 mln euros

Tuesday, 4 Nov 2014 01:31pm EST

Distribuidora Internacional de Alimentacion SA:Signs agreement to buy 160 stores from Eroski Group for 146 million euros in cash.Says stores located mainly in the Community of Madrid.

CST Brands Inc and CrossAmerica partners LP complete acquisition of Nice N Easy Grocery Shoppes

Monday, 3 Nov 2014 04:23pm EST

CST Brands Inc:Closes acquisition of Nice N Easy Grocery Shoppes.Based in Canastota, NY, Nice N Easy operates 77 corporate and franchise stores in Central New York.Nice N Easy has been at the forefront of the foodservice growth in convenience stores with the presence of its own Easy Street Eatery concept in many of its corporate stores.CST Brands and CrossAmerica jointly purchased the assets of Nice N Easy, with CrossAmerica purchasing 23 fee sites as well as certain fuel distribution assets for $65 mln.Both parties expect the transaction to be accretive.

Dollar General Corporation extends tender offer to acquire family dollar to oct. 31, 2014

Wednesday, 1 Oct 2014 08:30pm EDT

Dollar General Corporation:Says that it has extended its tender offer to acquire all outstanding shares of Family Dollar Stores Inc. for $80.00 per share in cash to 5:00 p.m. New York City time on Oct. 31, 2014, unless further extended.The tender offer was previously set to expire at 5:00 p.m. New York City time on Oct. 8, 2014.All other terms and conditions of the tender offer remain unchanged.As of 5:00 p.m. New York City time on Sept. 30, 2014, 126,499 shares of Family Dollar common stock have been validly tendered into, and not withdrawn from, the tender offer.The tender offer statement and related materials have been filed with the SEC.Goldman, Sachs & Co. is acting as financial advisor to Dollar General.KKR Capital Markets and MCS Capital Markets are advising Dollar General on the financing.Simpson Thacher & Bartlett LLP is acting as its legal counsel.

Dollar General Corporation extends tender offer to acquire family dollar to oct. 31, 2014

Wednesday, 1 Oct 2014 08:30pm EDT

Dollar General Corporation:Says that it has extended its tender offer to acquire all outstanding shares of Family Dollar Stores Inc. for $80.00 per share in cash to 5:00 p.m. New York City time on Oct. 31, 2014, unless further extended.The tender offer was previously set to expire at 5:00 p.m. New York City time on Oct. 8, 2014.All other terms and conditions of the tender offer remain unchanged.As of 5:00 p.m. New York City time on Sept. 30, 2014, 126,499 shares of Family Dollar common stock have been validly tendered into, and not withdrawn from, the tender offer.The tender offer statement and related materials have been filed with the SEC.Goldman, Sachs & Co. is acting as financial advisor to Dollar General.KKR Capital Markets and MCS Capital Markets are advising Dollar General on the financing.Simpson Thacher & Bartlett LLP is acting as its legal counsel.

CST Brands and Lehigh Gas Partners announce completion of acquisition of General Partner of Lehigh Gas Partners LP (LGP)

Wednesday, 1 Oct 2014 04:30pm EDT

CST Brands Inc:Says the company and Lehigh Gas Partners announced CST's completion of the purchase of 100 pct of the membership interests of Lehigh Gas GP LLC, the general partner of Lehigh Gas Partners LP from Lehigh Gas Corporation and all of the outstanding IDRs of LGP.Aggregate consideration was $17 million in cash and 2.044 million shares of CST common stock.Says it also announced that Lehigh Gas Partners LP has changed its name to CrossAmerica Partners LP effective Oct. 1.Beginning on Oct. 6, CrossAmerica will begin trading under the symbol CAPL and the partnership's common units will continue to trade on the New York Stock Exchange.BofA Merrill Lynch acted as a financial advisor and Paul Hastings LLP and Baker Botts LLP acted as legal counsel to CST.

Dollar General remains committed to acquisition of Family Dollar Stores Inc

Wednesday, 17 Sep 2014 05:29pm EDT

Family Dollar Stores Inc:Response to decision by Board of Family Dollar Stores, Inc. to reject Dollar General's tender offer to acquire all outstanding shares of Family Dollar for $80.00 per share in cash, Dollar General Corporation stated that it remains committed to acquiring Family Dollar.Acquire in a transaction that would deliver superior value to Family Dollar shareholders and is capable of being completed on the terms proposed.The Company also stated that it remains confident in both its antitrust strategy and the analysis performed by its antitrust advisors.

Dollar General remains committed to acquisition of Family Dollar Stores Inc

Wednesday, 17 Sep 2014 05:29pm EDT

Family Dollar Stores Inc:Response to decision by Board of Family Dollar Stores, Inc. to reject Dollar General's tender offer to acquire all outstanding shares of Family Dollar for $80.00 per share in cash, Dollar General Corporation stated that it remains committed to acquiring Family Dollar.Acquire in a transaction that would deliver superior value to Family Dollar shareholders and is capable of being completed on the terms proposed.The Company also stated that it remains confident in both its antitrust strategy and the analysis performed by its antitrust advisors.

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