Sign Up for FREE Daily Energy News
 
BREAKING NEWS:
Hazloc Heaters
Copper Tip Energy Services
Precision Well Servicing
Copper Tip Energy
Precision Well Servicing
Hazloc Heaters

Parkland Fuel buying 75 per cent stake in SOL Investments for $1.57 billion


CALGARY — Parkland Fuel Corp. says it will acquire a 75 per cent stake in SOL Investments Ltd., an independent fuel marketer in the Caribbean, for $1.57 billion under an agreement with its current owners. SOL supplies and markets a total of 4.8 billion litres of fuel annually across 23 countries in the Caribbean. Under the deal, SOL Ltd. will continue to own 25 per cent of SOL Investments and acquire about 12.2 million shares of Parkland Fuel, one of Canada's largest fuel distributors. SOL Ltd.'s parent, the Simpson Group, will own a 9.9 per cent stake in Parkland. The transaction is subject to customary consents and regulatory approvals. It is expected to close by the end of the year. Calgary-based Parkland Fuel is an independent marketer of fuel and petroleum products and a convenience store operator. Companies in this story: (TSX:PKI) The Canadian Press

Share This:



More News Articles


New SHOWCASE Directory Companies

 

Factors Western Inc.
DRYAIR Manufacturing Corp.
Bolongo Ltd.
Premier Integrated Technologies
Frac Shack Inc.
Startech Business Systems
MCI Solutions
Northern Mat & Bridge LP