M&As this week: Arcticneft, Alimentation Couche-Tard, and PDC Energy

Arcticneft has agreed to acquire the entire share capital of Arctic Oil Company (ANK) from ArcticMorNefteGazRazvedka (AMNGR).

The deal includes a purchase consideration of $1.56m, which will be funded through a short-term loan from Kamchatcomagroprombank (KKAPB).

ANK owns the central part of the Peschanoozerskoe oil field on Kolguyev Island, while the eastern and western areas are  owned by Arcticneft.

The acquisition is scheduled for completion on 31 August 2016.

Alimentation Couche-Tard (Couche-Tard) has signed an agreement to acquire CST Brands.

The acquisition includes a purchase consideration of $4.4bn, which will be funded through a combination of cash in hand, existing credit facilities, and a new term loan.

CST holds 100% incentive distribution rights (IDR) and equity stake in CrossAmerica Partners (CAPL). CST and CrossAmerica jointly own approximately 3,000 retail stores across 32 states in the US and six provinces in eastern Canada.

National Bank Financial and Morgan Stanley & Co are the financial advisors for the deal, whereas Faegre Baker Daniels and Davies Ward Phillips & Vineberg are the legal advisors.

Scheduled for completion in early 2017, the acquisition will enable Couche-Tard to expand its fuel retail operations in the US.

PDC Energy has agreed to acquire two privately-held oil and gas companies from Kimmeridge Energy Management Company.

The $1.5bn deal will be funded through a combination of debt and equity. The target companies hold approximately 93% working interest in approximately 57,000 net acres of the Core Delaware Basin in Texas, US.

J.P. Morgan & Co and Davis Graham & Stubbs are the financial and legal advisors to PDC Energy for the transaction, which is scheduled for completion in Q4, 2016.