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Transaction/Case Details

Groupe Pétrolier Norcan completes sale of 33% stake in Norcan Oil Terminal to Irving Oil

DATE CLOSED

February 14, 2013

BUSINESS SECTOR

Oil & Gas

LEAD OFFICE

Montreal


OVERVIEW

On February 14, 2013, Groupe Pétrolier Norcan Inc., La Coop Fédérée and MacEwen Petroleum Inc. sold to Irving Oil an equity share in Montréal's Norcan oil terminal.  Norcan’s marine terminal is located in Montréal East with pipeline access to the Saint Lawrence River. Norcan also leases storage facilities in the Port of Québec City to supply a full range of petroleum products to customers.

La Coop Fédérée, headquartered in Montréal, Québec, is the largest agri-food enterprise in Québec and ranks amongst the 100 largest co-operatives and mutual societies in the world, across all sectors

MacEwen Petroleum, headquartered in Maxville, Ontario, is a Canadian owned and operated fuel provider that has been building and sustaining relationships for over 30 years in Ontario and Québec.

Irving Oil, headquartered in Saint John, New Brunswick, is a family-owned and privately-held regional energy processing, transporting, and marketing company. Irving Oil operates Canada's largest refinery, in Saint John, NB, which is located 65 miles north of the US border and has reached production rates in excess of 300,000 barrels per day.

McCarthy Tétrault LLP represented represented La Coop Fédérée and MacEwen Petroleum as shareholders of Groupe Pétrolier Norcan, the target, with a team led by Éric Gosselin, and including Michèle Lefaivre, Sarah Lefebvre, and George Maziotis.

Further information is found on Newswire's website.

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