Cenovus to sell 337 Husky gas stations for $420-million [Toronto Globe and Mail (Ontario, Canada)]
Cenovus Energy Inc (CVE)
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Source: Toronto Globe and Mail
Cenovus Energy Inc. says it is selling 337 Husky gas stations for a total of $420-million. Parkland Fuels says it will buy 156 of the retail fuel stations for $156-million. Federated Co-operatives Ltd. will buy the remaining 181 stations for $264-million. Calgary-based Parkland Corp. says the deal will grow its retail presence in Greater Vancouver, Vancouver Island, Calgary, and the Greater Toronto Area. Saskatoon-based Federated Co-op says the deal is the largest acquisition in its history. Federated Co-op will transfer the sites to several independent local Co-ops across Western Canada. Cenovus says it will retain its commercial fuels business, which includes approximately 170 cardlock, bulk plant and travel centre locations. Cenovus acquired Husky Energy Inc. in early 2021. Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening. Sign up today .
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