Competition Bureau reaches deal with Parkland and Federated Co-operatives

OTTAWA — Parkland Corp. and Federated Co-operatives Ltd. have signed agreements with the Competition Bureau, which had raised concerns about their acquisition of 337 Husky retail gas stations.

The regulator says the agreements will help protect consumers from paying higher gas prices as a result of eliminating the Husky stations as a competitor in nine regions.

The deal with the regulator will see Parkland sell six retail gas stations in Hamilton to a buyer or buyers to be approved by the commissioner, while FCL will sell the Husky station in Gimli, Man.

The Husky stations in Portage la Prairie and Dauphin, Man., as well as Estevan, Sask., will also be transferred to Parkland instead of FCL.

In addition, the Husky dealer contracts in Foam Lake, North Battleford and Melfort, Sask., as well as Minnedosa, Man., will be transferred to Parkland instead of FCL.

Cenovus Energy Inc. agreed last year to sell the Husky gas stations for a total of $420 million.

This report by The Canadian Press was first published Aug. 25, 2022.

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

The Canadian Press

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