Parkland Fuel Corporation (Parkland) reached an agreement with Alimentation Couche-Tard Inc. (Couche-Tard) to acquire the majority of the Canadian business and assets of CST Brands, Inc. (CST) for approximately C$965M. With this acquisition, Parkland increases the number of its points of service in Canada to over 1,700 and becomes the leading Ultramar retailer across the country. Parkland thus expands and diversifies its presence in Quebec and the Atlantic provinces, while increasing its presence in Ontario.
Parkland is the largest independent distributor of fuel and petroleum products.
A Fasken Martineau team composed of Michel Boislard, Marie-Josée Neveu, Diane Bertrand, Kiran Singh (Mergers & Acquisitions), Mariella Lo Papa, Nicolas Leblanc, Caroline Stephens, Jean-Philippe Therriault (Real Estate), Jean-Philippe Mikus, Sarah Lavoie (Intellectual Property), Angela Onesi, Alexandre Gagnon, Margarita Altankova (Finance) advised Parkland during the acquisition and refinancing.