STORES | Staff Reporter, Hong Kong

Couche-Tard buys Circle K's Hong Kong business for $361m

Circle K currently has 340 stores in the city.

Convenience Retail Asia Limited (CRA) has agreed to sell its Circle K convenience store business in Hong Kong to Canada-based Alimentation Couche-Tard (ACT) for an estimated $361.10m (HK$2.8b), according to a press release.

Upon completion, CRA intends to declare a Special Cash Dividend of $0.50 (HK$3.85) per share.

Circle K began operating in Hong Kong in 1985 and the stores are managed by CRA, which under a franchise agreement with Couche-Tard, holds the exclusive right to the use of the Circle K brand in Hong Kong. Currently it has 340 stores in Hong Kong.

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