Topic: How To Invest

Stock Pickers Digest Hotline – Friday, October 13, 2017

Article Excerpt

ALIMENTATION COUCHE-TARD INC., $60.38, symbol ATD.B on Toronto, operates 12,225 convenience stores across North America and Europe. The company now plans to repurchase 4.3 million of its Class B voting shares from Metro Inc. (symbol MRU on Toronto and a recommendation of The Successful Investor). Couche-Tard will pay $57.17 each, for a total of $245.8 million. In a separate transaction, 11.4 million Class A multiple-voting shares held by Metro will be acquired by Caisse de dépôt et placement du Québec. Finally, under a previous agreement with Couche-Tard, Metro will convert another 11.4 million of its Class A shares into Class B shares before selling them to the public through a syndicate of brokers. Altogether, the shares Metro plans to sell represent roughly 85% of the 32 million shares it previously held. After the transactions, Metro will still own 5.1 million shares of Couche-Tard. Metro is selling the bulk of its 5.7% stake in the company to help pay for its acquisition of Jean Coutu…