Competition Bureau of Canada gives 44B CoucheTard deal green light

LAVAL, Que. — The Competition Bureau of Canada is giving the green light to Alimentation Couche-Tard (TSX.ATD.B) to purchase its American fuel and convenience store rival CST Brands Inc., provided the company sell some of CST’s Canadian assets to Parkland.In a statement Tuesday, the company based in Laval, Que., said the Competition Bureau gave them the clearance for the acquisition of CST Brands, and the transaction with Parkland Fuel Corp. (TSX: PKI).Couche-Tard says the closings of both transactions are expected Wednesday.The Competition Bureau says Couche-Tard’s proposed deal would lessen competition in numerous markets in Ontario, Quebec, Nova Scotia, New Brunswick, Prince Edward Island, and Newfoundland and Labrador.But the government agency says to address the concern, Couche-Tard agreed to sell 366 gas stations and gasoline supply contracts to Parkland and one gas station to Philippe Gosselin & Associes Limitee.The Competition Bureau says Parkland has also agreed to sell nine gasoline supply contracts to MacEwen Petroleum Inc. or McDougall Energy Inc. in Ontario.On Monday, Couche-Tard won approval from the U.S. Federal Trade Commission to buy CST Brands on condition that it sell up to 71 stores in the U.S. The stores are located in Arizona, Colorado, Florida, Georgia, Louisiana, New Mexico, Ohio and Texas.Empire Petroleum will also have the opportunity to purchase an additional site owned by Couche-Tard. This transaction is expected to be finalized by the beginning of September.Couche-Tard is the largest convenience store operator in Canada and has more than 8,000 convenience stores throughout North America, which are mostly branded as Circle K and Mac’s. read more

New Brunswick government wont lift fracking moratorium until conditions met

FREDERICTON – New Brunswick’s energy and mines minister says the province won’t lift a moratorium on hydraulic fracturing until all the government’s conditions are met.Donald Arseneault says the government is reviewing the report of a shale gas review committee that took almost a year to study the issue.“At the same time, our principles don’t change. We set out five conditions out there and said we’re not going to move on hydraulic fracturing unless those five conditions are met,” Arseneault said Tuesday.A collection of business groups is calling on the government to lift the moratorium, which was imposed in December 2014.The business groups held a news conference in Fredericton Tuesday to make their case.“When you look at the unemployment levels being as high as they are — almost 10 per cent unemployment in New Brunswick — certainly there are a lot of families in New Brunswick who could use the jobs at a time when our economy is really in a significant slump,” said Joel Richardson, vice-president of the New Brunswick division of Canadian Manufacturers and Exporters.He said the only way to attract investment and create jobs in the natural gas industry in New Brunswick is to lift the moratorium.But Arseneault said there are conditions that have to be met first.“Even if you lift the moratorium today, (the industry) still can’t proceed because they need to…address waste water. Today there is no plan to do this,” Arseneault said.The government set out five conditions when it imposed the moratorium, including a plan for regulations, waste-water disposal, a process to consult First Nations, a royalty structure and a so-called social licence.Arseneault said those conditions must be addressed before the moratorium can be lifted.Richardson said natural gas development has been without incident in New Brunswick since the early 1990s.He said it’s hoped that with proper regulations, the industry can develop in the province. New Brunswick government won’t lift fracking moratorium until conditions met by The Canadian Press Posted Mar 29, 2016 1:36 pm MDT Last Updated Mar 30, 2016 at 7:40 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email read more