HollyFrontier in the lead to acquire Petro-Canada lubricants: Reuters
U.S. oil refiner HollyFrontier Corp is in advanced talks to acquire Suncor Energy Inc's Petro-Canada lubricants division for a little over US$1 billion, after submitting the highest bid in an auction, sources told Reuters. The potential deal would give Canada's Suncor a cash boost with which to pay down debt incurred as a result of recent acquisitions. The auction for the Petro-Canada lubricants business attracted other companies and private equity firms, the sources said.
24 October 2016•2 mins read
