Parkland Corporation (PKI.TO), Wednesday has entered into an agreement with Avenir Energy Ltd. to divest its Canadian commercial propane business for cash consideration of about $115 million, and to exclusively supply fuel for ten years.
"This transaction is a big step toward achieving our target of $500 million from the divestment of non-core assets by the end of 2025," says Ian White, President of Parkland Canada. "By focusing on our core assets, we are simplifying our business to improve returns. Driven by our customer focus, we continue to see tremendous opportunity to deliver growth and value from our Canadian business."
Subject to certain closing conditions, the transaction is expected to close in the fourth quarter of 2024.
For comments and feedback contact: editorial@rttnews.com
Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.