Sunoco's Acquisition of Parkland Corp. Approved Under Investment Canada Act.

Sunoco LP's $9.1 billion takeover of Parkland Corp. has cleared a key regulatory milestone with Ottawa's Investment Canada Act approval. The deal is expected to close in Q4, subject to remaining approvals and customary conditions. Parkland owns a refinery in Burnaby, B.C., and operates gas stations in 26 countries. The transaction has already cleared a US antitrust hurdle and was approved by shareholders in June.

Sunoco LP has cleared a significant regulatory milestone in its acquisition of Parkland Corporation. The Canadian government has approved the deal under the Investment Canada Act, marking a crucial step toward the completion of the transaction.

The approval, announced on October 14, 2025, is expected to lead to the closing of the deal in the fourth quarter of 2025, subject to obtaining remaining regulatory approvals and the satisfaction or waiver of customary closing conditions. The acquisition, valued at $9.1 billion, aims to enhance Sunoco's market position and create synergies between the two companies.

Parkland Corporation, a leading international fuel distributor and marketer, operates in 26 countries across the Americas, including Canada, the United States, and the Caribbean region. The company has approximately 4,000 retail and commercial locations, providing a wide range of fuel and convenience products to consumers and businesses.

Sunoco LP, a leading energy infrastructure and fuel distribution master limited partnership, operates in over 40 U.S. states, Puerto Rico, Europe, and Mexico. The partnership's extensive pipeline network and terminals complement its fuel distribution operations, serving approximately 7,400 locations, according to TradingView.

The acquisition has already cleared a U.S. antitrust hurdle and was approved by shareholders in June. However, the deal is still subject to certain remaining regulatory approvals and conditions, which could potentially delay its closing.