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Fairness Opinion Detail

CST Brands, Inc. to Alimentation Couche-Tard Inc.

Deal Information

Target
CST Brands, Inc.
Acquiror
Alimentation Couche-Tard Inc.
Sector
Fuel & Convenience Stores
Target Type
Public
Acquiror Type
Strategic
Advisors
BofA

Transaction Metrics

Enterprise Value
EV / LTM Sales
EV / LTM EBITDA
EV / Fwd EBITDA

Advisor Transaction Comparables

Comparable transactions cited by the advisor, excluding the subject transaction.

Advisor: BofA

GP Distributable Cash Flow multiple selected range: 15.0x - 20.0x

14 comps
-Access Midstream Partners GP, L.L.C.Williams Companies, Inc.----
-Golden Gallon Holding LLCThe Pantry, Inc.----
-Lehigh Gas GP, LLCCST Brands, Inc.----
-The Circle K CorporationAlimentation Couche-Tard Inc.----
-TransMontaigne GP LLCArcLight Capital Partners----
-Uni-Marts, LLCGreen Valley Acquisition Co., LLC----
-7-Eleven, Inc.Seven-Eleven Japan Co., Ltd.----
-Susser Holdings CorporationWellspring Capital Management LLC----
-TCFS Holdings, Inc. (Town & Country Food Stores, Inc.)Susser Holdings Corporation----
-Statoil Fuel & Retail ASAAlimentation Couche-Tard Inc.----
-Susser Holdings CorporationEnergy Transfer Partners, L.P.----
-Hess Retail Holdings LLCMarathon Petroleum Corporation----
-Aloha Petroleum, Ltd.Energy Transfer Partners, L.P.----
-The Pantry, Inc.Alimentation Couche-Tard Inc.----
Mean---
Median---