Newspaper article The Canadian Press

Competition Bureau Requires Couche-Tard to Sell Two Gas Stations in Esso Deal

Newspaper article The Canadian Press

Competition Bureau Requires Couche-Tard to Sell Two Gas Stations in Esso Deal

Article excerpt

Competition Bureau OKs Couche-Tard Esso deal

--

MONTREAL - Alimentation Couche-Tard has agreed to sell two gasoline stations in Ontario and Quebec to resolve Competition Bureau concerns about the convenience store chain's purchase of nearly 300 Esso locations from Imperial Oil for about $1.7 billion.

The federal agency says the Quebec-based retailer will sell a Mac's-branded retail gas station in Carleton Place, Ont., and the Esso-branded station in St-Bruno-de-Montarville, Que.

It found Couche-Tard (TSX:ATD.B) would have controlled more than 35 per cent of the market in those municipalities without the sale, opening the door for the company to raise gas prices or reduce the rate of price discounting.

Imperial Oil agreed last March to sell its 497 Esso retail stations to five fuel distributors, including Couche-Tard. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.