Oil & Gas Refining & Marketing M&A » By The Online Investor Staff, updated Sun., Jul. 3, 4:59 PM
Recent mergers and acquisitions in the Oil & Gas Refining & Marketing M&A category.
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Slide #33. Parkland Fuel Corporation — Elbow River Marketing
Acquirer:
Parkland Fuel Corporation (TSE:PKI.CA)
Acquiree:
Elbow River Marketing
Details:
Parkland Fuel Corporation ("Parkland" or the "Corporation") (TSX: PKI), Canada's largest independent distributor and marketer of petroleum products, today announced that, having received all necessary approvals, it has completed its previously announced transaction to acquire the assets of Elbow River Marketing Limited Partnership ("Elbow River") from AvenEx Energy Corporation (TSX: AVF) (the "Acquisition"). The assets were acquired by Elbow River Marketing Limited, a wholly owned subsidiary of Parkland Fuel Corporation. All financial figures are stated in Canadian dollars.
Parkland is a food and convenience store operator, an independent supplier and marketer of fuel and petroleum products and engaged in renewable energy. Co.'s business comprised four operating segments: Canada, which owns, operates, supports and distributes a network of retail convenience, food and fuel sites, commercial cardlocks and bulk fuel facilities; U.S., which delivers fuel, lubricants and other related products and services to customers; Supply, which consists of logistics, marketing, supply and the Burnaby Refinery; and International, which is represented by its indirect subsidiary, Sol Investments SEZC, an independent fuel marketer in the Caribbean.
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