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Wednesday, September 3, 2014

Couche-Tard to sell aviation fuel business to Air BP, (NYSE: BP)

Alimentation Couche-Tard Inc said on Wednesday it has agreed to sell its aviation fuel business to Air BP, one of the world's top suppliers of aviation fuel products and services. The terms of the deal were not disclosed by Laval, Quebec-based Couche-Tard, which operates gas stations and convenience stores across North America and Europe.The deal, subject to regulatory approvals, is expected to be completed by the end of 2014. Air BP is a subsidiary of energy industry giant BP Plc.Couche-Tard acquired the SFR Aviation fuel business via its $2.8 billion takeover of Statoil Fuel and Retail in 2012, which gave it a major foothold in Europe.Couche-Tard said SFR Aviation supplies fuel products to bulk customers, airliners, general aviation and military aircraft in nine countries across Northern Europe.

BP p.l.c. (BP) is an integrated oil and gas company. Shares of BP remained unchanged at $47.20. In the past year, the shares have traded as low as $41.28 and as high as $53.48. On average, 3946190 shares of BP exchange hands on a given day and today's volume is recorded at 4421.