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TotalEnergies’ Successful Implementation of Agreements with Couche-Tard


TotalEnergies has successfully completed the implementation of the agreements signed in March 2023 with Alimentation Couche-Tard (“Couche-Tard”). This transaction, with an enterprise value of EUR3.1 billion, was finalized in two steps. On December 28th, 2023, the transaction related to the network in Germany was completed, followed by the transactions related to the networks in the Netherlands, Luxembourg, and Belgium on January 3rd, 2024.

The total cash consideration that TotalEnergies received after adjustments and before tax amounted to EUR3.4 billion (approximately $3.8 billion, including approximately $2.4 billion in December 2023).

Transaction Details

The transaction involved TotalEnergies’ retail networks in the following countries:

  • In Germany and the Netherlands, TotalEnergies sold 100% of its networks to Couche-Tard.
  • In Belgium and Luxembourg, TotalEnergies and Couche-Tard formed a joint venture, with TotalEnergies holding a 40% stake and Couche-Tard holding a 60% stake.

TotalEnergies will additionally continue to supply fuel to the service stations in these four countries for a minimum duration of five years. The fuel will be sourced from TotalEnergies’ refineries in Antwerp (Belgium) and Leuna (Germany).

About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets various energy sources, including oil and biofuels, natural gas and green gases, renewables, and electricity. With over 100,000 dedicated employees, TotalEnergies is committed to providing energy that is affordable, sustainable, reliable, and accessible to as many people as possible. Operating in nearly 130 countries, TotalEnergies prioritizes sustainable development across all its projects and operations to contribute to the well-being of individuals and communities.

TotalEnergies: A Leading Energy Company

It’s important to note that the entities in which TotalEnergies SE holds a shareholding are separate legal entities. TotalEnergies SE does not bear any liability for the actions or omissions of these entities.

The information presented in this document may contain forward-looking statements, which are based on economic data and assumptions made in a specific competitive, economic, and regulatory environment. However, these statements may prove to be inaccurate in the future due to various risk factors. TotalEnergies SE and its subsidiaries do not assume any obligation to publicly update any forward-looking information or statements, objectives, or trends contained in this document, whether as a result of new information, future events, or otherwise.

For detailed information regarding risk factors that may affect TotalEnergies’ financial results and activities, please refer to the most recent Registration Document filed with the French securities regulator Autorité des Marchés Financiers (AMF) and the Form 20-F filed with the United States Securities and Exchange Commission (SEC).

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