Simpson Thacher is advising COPEC, Inc., a wholly-owned subsidiary of Copec S.A. (COPEC), in connection with its agreement to sell MAPCO Express, Inc., a subsidiary that operates a network of 304 fuel services stations and convenience stores in Alabama, Arkansas, Georgia, Kentucky, Mississippi, and Tennessee. The business will be acquired by Circle K Stores, a subsidiary of Alimentation Couche-Tard, and by the majority shareholder of Majors Management. Closing remains subject to customary closing conditions, including the receipt of regulatory approvals.
COPEC is a Chilean company that operates through its various subsidiaries in the energy sectors in South and North America. It is a wholly-owned subsidiary of Empresas Copec, one of the largest public companies in Chile, with operations in fuel and lubricants distribution & convenience stores, forestry, fishing and other industries.
Alimentation Couche-Tard is a leader in the convenience stores industry and operates stores under the Couch-Tard, Circle K and Ingo brands; it has more than 14,300 stores in 24 countries and employs approximately 122,000 people. Majors Management operates convenience stores under the Hop In brand and distributes fuel to more than 1,400 service stations in the United States.
The Simpson Thacher team includes Juan M. Naveira, Joshua Bernard, Laura Ribero and Hernan Alal (M&A); Krista Miniutti, Krista McManus and Manfredi Sclopis (Real Estate); Andrew Purcell and Lina Pan (Tax); Mike Isby (Environmental); Larry Moss and Damian Gallagher (ECEB); Peter Guryan, Jamie Logie and Geoffrey Schmelkin (Antitrust); Steven DeLott (Insurance) and Lori Lesser, Mark Natividad and Kate Mirino (IP).