A leading provider of business research for the Oil & Gas Industry
  • Data analysis Parkland Acquires Chevron Canada's Downstream Fuel Business

    Parkland Fuel Corporation has entered into an agreement with Chevron Canada Limited (CCL) to acquire all of the shares of Chevron Canada R&M ULC, which operates its Canadian integrated downstream fuel business, for C$1.46 billion (US$1.1 billion), plus an estimated C$186 million in working capital for the...

    Parkland Acquires Chevron Canada's Downstream Fuel BusinessData analysis
    Headlines, Global Deals

    Parkland Fuel Corporation has entered into an agreement with Chevron Canada Limited (CCL) to acquire all of the shares of Chevron Canada R&M ULC, which operates its Canadian integrated downstream fuel business, for C$1.46 billion (US$1.1 billion), plus an estimated C$186 million in working capital for the acquired business.

    The business acquired as part of the Acquisition (collectively, the Acquired Business) consists of: i) 129 Chevron-branded retail service stations principally located in Metro Vancouver, which complement Parkland's existing 44 Chevron-branded sites in British Columbia (the Retail Business), ii) 37 commercial cardlock and three marine fueling locations (the Commercial Business), iii) a complimentary refinery in Burnaby, terminals located in Burnaby, Hatch Point, and Port Hardy, British Columbia, and a wholesale business which includes aviation fuel sales to the Vancouver International Airport (collectively, the Supply and Wholesale Business).

    Closing of the acquisition is expected to be in Q4-2017.

    View Parkland press release

Get instant access to our databases

For subscriptions and other enquiries write to us at sales@1derrick.com

else leave your details and we will get in touch with you.