Brookfield closes $540 mln buy of Loblaw gas station business
The private equity group of Brookfield Asset Management has closed its acquisition of the gas station unit of Loblaw Cos Ltd (TSX: L). The deal, announced in April, saw Brookfield pay the Canadian grocery and pharmacy retailer about $540 million for the asset, which includes 213 gas stations and associated convenience kiosks adjacent to Loblaw-owned stores. Brookfield said the gas stations will be rebranded as Mobil as part of an agreement with Imperial Oil Ltd. Expected to commence this fall, the rebranding marks the introduction of the Mobil fuel brand into Canada.
17 July 2017•3 mins read
