This could be bad those of us who are addicted to 94 octane!
CALGARY – Husky Energy Inc. (TSX: HSE) said Thursday it has signed a deal to buy 98 gas stations in Ontario from Suncor Energy Inc. (TSX: SU). Financial terms of the deal were not immediately available.The agreement includes 68 Sunoco branded stations and 30 Petro-Canada branded stations. It will increase Husky's total to 128 stations in Ontario.
Husky plans to convert the stations to the Husky banner in the second quarter of 2010.
"It represents an attractive opportunity for our shareholders and further strengthens the company's strategy of being a fully integrated oil and gas business," Husky president and chief executive John Lau said in a statement.
Suncor committed to sell the stations under an agreement with the Competition Commissioner in July as part of its merger with Petro-Canada.
Under the agreement, Suncor was required to sell 104 gas stations in southern Ontario to allay concerns that the merger would have undermined competitiveness.
Husky is an integrated energy companies with oil and natural operations in Canada, the United States, offshore Greenland and Southeast Asia.


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