Oil & Gas Refining & Marketing M&A » By The Online Investor Staff, updated Mon., Sep. 20, 10:26 AM
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 Fuel is engaged in marketing, distributing and refining of fuel and petroleum products and a convenience retailer. Co. operates under five operating segments: Supply in Co.'s fuel contracts; Canada Retail operates a network of retail gas stations in Canada; International operates a retail service station internationally; Canada Commercial delivers bulk fuel, propane, heating oil, lubricants, agricultural inputs, oilfield fluids and other products and services to commercial, industrial and residential customers; and United States operates and services a network of retail service stations and delivers gasoline, distillates, propane and lubricating oils in the United States.
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