US Edition
Sunoco Wins Regulatory Approval for $9 Billion Buyout of Canadian Company
The $9.1 billion deal aims to combine fuel distribution and infrastructure assets to boost growth and value, with Parkland operating 4,000 retail and commercial locations, officials said.
- U.S. fuel distributor Sunoco LP's proposed $9.1 billion takeover of Calgary-based fuel retailer and refiner Parkland Corp. has cleared a key regulatory milestone with Ottawa's approval under the Investment Canada Act.
- The transaction is expected to close in the fourth quarter of 2025, subject to remaining regulatory approvals and the satisfaction or waiver of customary closing conditions.
- Parkland owns the Ultramar, Chevron and Pioneer gas station chains as well as several other brands in 26 countries, and also runs a refinery in Burnaby, B.C., which supplies nearly one-third of the region's domestically supplied gasoline and jet fuel.
16 Articles
16 Articles
Sunoco wins regulatory approval for $9 billion buyout of Canadian company
The Canadian government has signed off on Sunoco's $9.1 billion buyout of Parkland Corp. The deal was first announced in May and is expected create the largest retail fueling and convenience store giant in the Americas.
Parkland announced that the federal government had approved, under the Investment Canada Act, Sunoco's proposed acquisition of control of the company, an important regulatory step for the transaction.
Sunoco LP and Parkland Corporation Receive Investment Canada Act Approval
DALLAS, Oct. 14, 2025 /PRNewswire/ -- Sunoco LP (NYSE: SUN) ("Sunoco" or the "Partnership") and Parkland Corporation (TSX: PKI) ("Parkland") today announced that the Government of Canada has approved the previously announced proposed acquisition of Parkland by Sunoco (the "Transaction"),…
Winnipeg Free Press
Parkland-Sunoco deal receives Investment Canada Act approval
Breaking News, Sports, Manitoba, Canada
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