Competition Bureau resolves retail fuel competition concerns in Niagara Region

Competition Bureau··Read original
2▲0 ▼1Impact / 5
Summary · why it matters

The Competition Bureau has reached an agreement with BVD Petroleum Inc. to resolve competition concerns related to its proposed acquisition of certain fueling assets from Cenovus Energy Inc. and Husky Canadian Petroleum Marketing Partnership. The Bureau concluded that the transaction would likely reduce competition between a Petro-Canada station operated by BVD and an Esso station operated by Cenovus, located near one another along the Queen Elizabeth Way near Glendale, Ontario. To address the concerns, BVD has agreed to sell its Petro-Canada gas station and Petro-Pass cardlock facility to a buyer approved by the Commissioner of Competition. The Bureau is satisfied that this remedy will preserve local competition and prevent potential price increases for drivers in the area.

Impact on assets 1

Energy▼ · 1 stocks
Cenovus Energy Inc
CVE
▼ NegativeCompetitionrelevance

Cenovus is selling fueling assets to BVD, and the deal required BVD to divest a station to preserve competition, indicating regulatory scrutiny and potential loss of a competitive outlet.

Off-coverage companies 2

BVD Petroleum Inc.Private▼ Negative
Regulationrelevance

BVD must sell its Petro-Canada station and cardlock facility to resolve competition concerns from its acquisition of Cenovus/Husky assets.

Husky Canadian Petroleum Marketing PartnershipPrivate▼ Negative
Competitionrelevance

Husky's assets are part of the acquisition that raised competition concerns, leading to required divestiture.

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