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Canada's Couche-Tard in lead to acquire CST Brands -sources

Published 2016-08-16, 10:34 a/m
Canada's Couche-Tard in lead to acquire CST Brands -sources
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By Lauren Hirsch

NEW YORK, Aug 16 (Reuters) - Canadian convenience store operator Alimentation Couche-Tard Inc ATDb.TO is in the lead to acquire CST Brands Inc CST.N , a U.S.-based convenience store retailer, according to two sources familiar with the matter.

San Antonio, Texas-based CST owns and operates convenience stores and gas stations in Canada and the United States, and it controls the general partner of gas station company CrossAmerica Partners LP CAPL.N .

CST declined to comment. Couche-Tard did not immediately respond to a request for comment.

The move highlights the level of consolidation in the convenience store sector and reinforces Couche-Tard as one of the most acquisitive players in the industry.

The news comes about two months after Reuters reported that Couche-Tard and Japan's Seven & i Holdings Co Ltd 3382.T had submitted offers to acquire CST. Wall Street Journal first reported that Couche-Tard was close to buying CST.

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