Husky agrees to acquire Suncor outlets

Husky Energy Inc., Calgary, entered an agreement with Suncor Energy Inc. and Suncor Energy Products Inc. to purchase 98 retail gasoline outlets in the competitive Southern Ontario market, subject to approval by the Canadian Commissioner of Competition.

By OGJ editors
HOUSTON, Dec. 14
-- Husky Energy Inc., Calgary, entered an agreement with Suncor Energy Inc. and Suncor Energy Products Inc. to purchase 98 retail gasoline outlets in the competitive Southern Ontario market, subject to approval by the Canadian Commissioner of Competition.

Suncor agreed with the commissioner to divest the retail outlets in July as part of its merger with Petro-Canada. Successful completion of the deal would increase to 571 Husky’s total network of Canadian retail outlets, establishing its position as one of the leading gas retailers in the country. Terms of the acquisition were not revealed.

“These facilities are in proximity to our US refining assets, and the downstream integration grows our presence in the highly urbanized and densely populated Ontario market from 30 stations to 128,” said John C.S. Lau, Husky Energy’s president and chief executive. It also strengthens the company's position as one of Canada's largest fully integrated energy companies.

Husky operates a heavy oil upgrader and asphalt refinery in Saskatchewan and Alberta, a refinery in Prince George, BC, and US-based refineries in Toledo and Lima, Ohio. It also is Western Canada's largest producer of ethanol.

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