Parkland Corporation and Sunoco LP Receive Investment Canada Act Approval

Executive Summary

• The Government of Canada has approved the Investment Canada Act filing for Sunoco LP’s proposed acquisition of Parkland Corporation.
• Closing of the transaction is expected in Q4 2025, subject to remaining regulatory approvals and customary closing conditions.
• The approval removes a key hurdle, making the deal materially more likely to be completed.

Key Details

• Regulatory Approval: Canada’s Investment Canada Act has approved the previously announced acquisition of Parkland by Sunoco LP.
• Transaction Structure: Sunoco LP will acquire all outstanding shares of Parkland Corporation; specific consideration terms were disclosed in earlier announcements (not restated here).
• Closing Timeline: Anticipated to close in the fourth quarter of 2025, pending any remaining regulatory approvals and satisfaction or waiver of standard closing conditions.
• Remaining Conditions: Subject to obtaining any additional required approvals from other jurisdictions and meeting customary closing covenants.
• Strategic Rationale (from background): The combination aligns Sunoco’s extensive mid‑stream infrastructure with Parkland’s retail and commercial fuel network, enhancing supply chain integration across North America.

Notable Quotes

(No direct quotes were included in the release.)