On June 27, the Competition Bureau announced that it had
cleared Alimentation Couche-Tard Inc.'s acquisition of CST
Brands, Inc. (the owner of the Ultramar brand), and the subsequent
sale of the majority of CST's Canadian assets to Parkland
Industries Ltd. (see the Bureau press release). This concludes
the Bureau's lengthy review of the transactions, which were
announced in the third quarter of 2016.
Each transaction is subject to a consent agreement, which the
Bureau concluded will address the competition concerns it alleged
were associated with the transactions. Pursuant to the
consent agreements: (i) Couche-Tard agreed to sell 366 gas stations
and gasoline supply contracts to Parkland, and one gas station to
Philippe Gosselin & Associés Limitée; and (ii)
Parkland agreed to sell nine gasoline supply contracts to MacEwen
Petroleum Inc. or McDougall Energy Inc. and certain of its
own assets to MacEwen in two other markets where the Bureau alleged
competition
