Parkland Fuel Corporation to Acquire 75% of SOL, the Largest Independent Fuel Marketer in the Caribbean [Canadian Business Journal (Canada)]
Canadian Imperial Bank of Commerce (CM)
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Source: Canadian Business Journal
Parkland Fuel Corporation to Acquire 75% of SOL, the Largest Independent Fuel Marketer in the Caribbean CALGARY, Alberta, Oct. 10, 2018 (GLOBE NEWSWIRE) — Parkland Fuel Corporation (“ Parkland ”, “ We ”, “ Our ” or “ Us ”), (TSX:PKI) Canada’s largest and one of North America’s fastest growing independent marketers of fuel and petroleum products and a leading convenience store operator, and SOL Limited have entered into an agreement to complete a business combination (the “ Business Combination ” or “ Transaction ”) between Parkland and SOL Investments Limited (“ SIL ”) and its subsidiaries (collectively, “ SOL ”). A privately-held company owned by the Simpson Group, SOL is the largest independent fuel marketer in the Caribbean and a wholly-owned subsidiary of SOL Limited. SOL supplies and markets a total of 4.8 billion liters of fuel volume annually across 23 countries in the Caribbean and generated US$215 million (approximately C$280 million i ) in adjusted earnings
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