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Sunoco's $9.1B takeover of Parkland gets Canadian approval, paving way for completion late 2025.
The $9.1 billion takeover of Parkland Corp. by U.S. fuel distributor Sunoco LP has received approval under Canada’s Investment Canada Act, a key step toward closing in late 2025.
The deal, which cleared U.S. antitrust review and shareholder approval, was assessed for its net benefit to Canada, including impacts on supply chains and economic security.
Parkland operates the Burnaby refinery, supplying nearly a third of the region’s gasoline and jet fuel, and owns major fuel brands across 26 countries.
The transaction comes amid heightened Canada-U.S. tensions and increased scrutiny of foreign ownership in critical sectors.
La adquisición de Parkland por $9.1B de Sunoco obtiene la aprobación canadiense, allanando el camino para su finalización a fines de 2025.