Husky buys 98 stations from Suncor
Sale was requirement of Suncor-PetroCan merger
Calgary-based Husky Energy Inc. said Thursday it is buying 98 gas stations in Ontario from Suncor Energy Inc.
No price was disclosed.
The deal involves 68 Sunoco branded stations and 30 Petro-Canada branded stations and will increase to 128 Husky's total number of stations in the province. The company plans to convert the stations to its signage in the spring of 2010.
"It represents an attractive opportunity for our shareholders and further strengthens the company's strategy of being a fully integrated oil and gas business," CEO John Lau said in a statement.
Suncor committed to selling the stations under an agreement with the competition commissioner in July as part of its merger with Petro-Canada.
Husky is an integrated energy company with oil and natural gas operations in Canada, the United States, offshore Greenland and Southeast Asia.