Alimentation Couche-Tard launches takeover bid for Poland's Żabka

Alimentation Couche-Tard has launched a voluntary takeover bid for all shares of the Polish retail chain Żabka. The Canadian company is offering 32 PLN per share, which represents a 2.3 percent premium over the most recent closing price on the Warsaw Stock Exchange.

The acquisition would value Żabka at approximately 32.6 billion PLN, or roughly 8.8 billion USD. This transaction, which is expected to be the largest in the history of the Canadian convenience store operator, is being conducted through its subsidiary, Circle K Polska. Ipopema Securities is acting as the intermediary.

Couche-Tard anticipates that the acquisition will generate approximately 250 million USD in annual savings within three years. If the company acquires at least 95 percent ownership, it may seek to delist Żabka from the stock exchange. Żabka currently operates around 13,000 stores across Poland and Romania.