Competition Bureau and Global Fuels agree to address Greenergy deal concerns

A Global Fuels Inc. logo is shown in a handout.The Competition Bureau says it has reached a deal with Global Fuels Inc. to address concerns over the company’s deal to buy Greenergy’s Canadian retail fuel business.THE CANADIAN PRESS/HO

The Competition Bureau says it has reached a deal with Global Fuels Inc. to address concerns over the company’s deal to buy Greenergy’s Canadian retail fuel business.

Under the agreement, the bureau says Global Fuels has agreed to assign motor fuel supply agreements in Picton and Chatham, Ont., to a buyer or buyers to be approved by the federal regulator.

Global Fuels operates one of the largest chains of gas stations in the country, with a national network of Esso, Mobil, and Esso Cardlock branded fuel locations.

The company announced a deal in July to buy U.K.-based Greenergy’s Canadian retail fuel business.

The acquired network includes 241 retail gas and convenience locations extending from Nova Scotia to B.C.

The sites are predominantly Mobil-branded and located adjacent to Loblaw grocery stores in larger communities across the country.

This report by The Canadian Press was first published Oct. 26, 2023.

The Canadian Press

News from © The Canadian Press, 2023. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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