UPDATE 1-Parkland Fuel to buy 75 pct in fuel marketer SOL Investments for C$1.57 bln [Reuters]
Canadian Imperial Bank of Commerce (CM)
Last canadian imperial bank of commerce earnings: 2/26 05:53 am
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Source: Reuters
Parkland Fuel to buy 75 percent in fuel marketer SOL Investments for C$1.57 billion | Reuters 2 Min Read (Reuters) - Parkland Fuel Corp ( PKI.TO ), a Canada-based marketer of petroleum products, said on Wednesday it would buy a 75 percent stake in privately held SOL Investments Ltd and its units for C$1.57 billion ($1.21 billion). The deal gives Parkland access to 526 retail gas stations, expanding its presence in the U.S. Gulf and Atlantic coasts, the company said. Upon closing of the deal, SOL’s parent company Simpson Group will own a stake of about 10 percent in Parkland, the companies said in a statement. Parkland will also get a call option for purchase of the remaining 25 percent stake in the company. The transaction will be financed by Parkland through debt financing of around C$1.1 billion underwritten by Canadian Imperial Bank of Commerce and National Bank of Canada. Last year, Parkland signed a deal to buy Chevron Corp’s ( CVX.N ) gasoline stations and refinery in Britis
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CM
Earnings
- 2/29/24 - Beat
CM
Sec Filings
- 4/16/24 - Form 424B2
- 4/16/24 - Form 424B2
- 4/15/24 - Form 424B2
- CM's page on the SEC website