Loblaw to sell gas station business to Brookfield for $540 mln: Reuters
Canadian grocery and pharmacy retailer Loblaw Cos Ltd said it would sell its gas station business to asset manager Brookfield Business Partners LP for about $540 million, Reuters reported. The deal, which includes Loblaw's 213 retail gas stations and convenience stores adjacent to the gas stations across Canada, is expected to close in the third quarter of 2017. Brookfield Business Partners was spun out of Toronto-based Brookfield Asset Management last year. The listed vehicle allows Brookfield shareholders to invest directly in the firm's private equity portfolio.
19 April 2017•2 mins read
