Cenovus to sell Husky gas stations to Parkland, Co-op

CALGARY — Cenovus Energy Inc. says it is selling 337 Husky gas stations for a total of $420 million.

The Calgary-based company says it will sell 156 of the retail fuel stations to Parkland Corporation for $156 million.

It will sell the remaining 181 stations to Federated Co-operatives Ltd. for $264 million.

Calgary-based Parkland Corp. says the deal will grow its retail presence in Greater Vancouver, Vancouver Island, Calgary, and the Greater Toronto Area.

Saskatoon-based Federated Co-op says the deal is the largest acquisition in its history. Federated Co-op will transfer the sites to several independent local Co-ops across Western Canada.

Cenovus says it will retain its commercial fuels business, which includes approximately 170 cardlock, bulk plant and travel centre locations.

Cenovus acquired Husky Energy Inc. in early 2021.

This report by The Canadian Press was first published Nov. 30, 2021.

Companies in this story: (TSX:CVE, TSX:PKI)

The Canadian Press

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