18:45:24 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Parkland Corp
Symbol PKI
Shares Issued 174,728,314
Close 2024-05-02 C$ 41.59
Market Cap C$ 7,266,950,579
Recent Sedar Documents

Globe says Parkland sees interest in gas-station assets

2024-05-03 08:43 ET - In the News

The Globe and Mail reports in its Friday edition that gas-station retailer Parkland said Thursday the 157 Canadian fuel and convenience store locations it has put up for sale are generating a great deal of interest from prospective buyers. A Canadian Press dispatch to The Globe says the Calgary-based company announced earlier this year that it is aiming to divest the stores as part of its efforts to optimize its network. The locations for sale include ones operated under the Chevron, Ultramar, Pioneer and FasGas brands as well as the On the Run convenience store banner. Most are in Quebec and Ontario. "There's a lot of interest from individuals who want to buy a site, become a dealer, as well as buyers who want potentially to have multiple sites," said Parkland chief financial officer Marcel Teunissen in a conference call with analysts to discuss the company's first-quarter financial results. The sale of the gas-station locations is part of Parkland's broader goal to divest $500-million in "non-core" assets by the end of 2025. Of the $400-million in assets that the company has already identified as potential divestitures, a significant proportion has already been sold or is in advanced stages of negotiation, he said.

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