Imperial Oil, Canada’s No.2 oil company, is ‘accepting proposals’ for 500 Esso sites: Reuters
The second biggest integrated oil producer and refiner in Canada, Imperial Oil, is ‘accepting proposals’ for 500 Esso retail sites which could be worth some $831 million, according to as many as four sources familiar with the process, Reuters news agency reported May 15.
“Some 1,200 of Imperial's 1,700 Esso-branded sites operate under a wholesaler model, where the stations are owned by other parties but retain the Esso brand and are supplied by Imperial, which is majority-owned by Exxon Mobil Corp,” Reuters news said in its report.
Reuters named Parkland Fuel Corp , Alimentation Couche-Tard Inc and CST Brands Inc –all three already operating some Esso stations in Canada-- as some potential purchasers, according also to its sources.
A company spokeswoman told Reuters that the company will approach the process with a careful evaluation. The news agency tried to get comment from the three potential purchasers but could not.
