Shell Canada divests assets in three western markets
Published on: Aug 3, 2023
The country’s Competition Bureau has ordered this so that the company can continue with the acquisition of 56 service stations from Sobeys Capital.
Shell Canada Limited has agreed to divest assets in three markets across the western region of the country. The news comes due to the intervention of the nation’s Competition Bureau in relation to the company’s $100 million deal to acquire 56 service stations from Sobeys Capital Incorporated.
The Bureau concluded that the proposed transaction would likely lessen or prevent competition in the supply of retail fuels in three markets in Alberta and British Columbia. That is why the firm has agreed to divest assets in Brooks, Alberta; Fort St. John and Mission, British Columbia.
Shell’s Canadian operations include oil and gas exploration, refining and manufacturing, emissions reduction initiatives and fuel delivery. The firm supplies fuel to approximately 1,383 retail stations nationwide.
The purchase was part of the company’s strategy to expand its retail fuel footprint across the country by acquiring sites that are co-located with Sobeys grocery stores.
