Parkland Fuel acquires Chevron Canada's downstream fuel business for C$1.5B
October 01, 2017
1.50 Billion CAD
On October 1, 2017, Parkland Fuel Corporation ("Parkland") announced the closing of its acquisition of Chevron Canada’s downstream fuel business in Canada through the acquisition of all of the issued and outstanding shares of Chevron Canada R&M ULC (the "Acquisition") for approximately C$1.5 billion.
The Acquisition places important British Columbia infrastructure under experienced Canadian ownership. The business acquired as part of the Acquisition includes: (i) 129 Chevron-branded retail service stations principally located in Metro Vancouver, which complement Parkland's existing 44 Chevron-branded sites in British Columbia; (ii) 37 commercial cardlock and three marine fueling locations; (iii) a refinery located in Burnaby and related terminals located in Burnaby, Hatch Point and Port Hardy, British Columbia; and (iv) a wholesale aviation business serving the Vancouver International Airport.
McCarthy Tétrault LLP advised Parkland with a team led by Sven Milelli that included Claire Sung, Robin Mahood, Glynnis Morgan, Nathan Robb, Jerry Nguyen and Erin O’Callaghan (Corporate and M&A); Parisa Gerami, Scott Smythe, Joy Ren, Patrick Beechinor, Madeleine Hawkins and Robyn Cooper (Real Property); Paul Cassidy and Kevan Hanowski (Environmental); TJ Kang (Tax); Vincent Yip and David Crane (Information Technology and Intellectual Property); Donovan Plomp, Lorraine Allard, Ryley Mennie and Monique Ronning (Labour & Employment, and Pensions); Michael Feder, Patrick Williams and Nicholas Hughes (Litigation); and Gordon Nettleton and Cameron Hughes (Oil & Gas).