ARKO Corp - Ordinary Shares - Class A

+0.09 (+0.98%)
Mergers / Acquisitions

Arko Corp Announces Agreement To Acquire All Assets Of Transit Energy Group

Published: 09/12/2022 12:22 GMT
ARKO Corp - Ordinary Shares - Class A (ARKO) - Arko Corp- Purchase Price is Approx $375 Million Plus Value of Inventory, of Which $50 Million is Deferred, Payable in Two Annual Payments of $25 Million.
Announces Agreement to Acquire All Assets of Transit Energy Group, a Large Privately Held Portfolio in the Southeast With Approximately 350 Sites Across Retail and Wholesale.
Arko Corp-intends to Finance From Its Own Sources Approximately $60.0 Million of Cash Consideration Plus Value of Inventory and Other Closing Adjustments.
Remaining Approximately $265 Million is Expected to Be Funded by Oak Street Real Estate Capital, a Division of Blue Owl Expects That This Acquisition Will Add Approximately $18 Million of Adjusted EBITDA on an Annualized Basis.
There is No Certainty That Transaction Will Close.
Arko Corp - Gpm, a Wholly Owned Subsidiary of Arko, and Certain of Gpm's Subsidiaries Have Agreed to Acquire From Teg Approx 150 Convenience Stores.