Money Brookfield to buy all 213 Loblaw gas stations

22:41  19 april  2017
22:41  19 april  2017 Source:   MSN

Loblaw to open 30 new stores, renovate others

  Loblaw to open 30 new stores, renovate others BRAMPTON, Ont. - Loblaw said Thursday it plans to open 30 new stores and renovate more than 500 existing stores as it continues to adapt to changes in the food retail sector. The grocery and pharmacy giant said the investment includes the continued roll out of its Click & Collect e-commerce program, improved health and wellness services, and the inclusion of fresh food at select Shoppers Drug Mart locations. Loblaw (TSX:L) said the moves will invest about $1.3 billion into the economy and create an estimated 10,000 retail, trade and construction jobs.

Loblaw is selling all 213 of its gas stations across the country for 0 million to Brookfield Business Partners and its partners. While Brookfield would rebrand the stations to Mobil, they would continue to use the PC Plus loyalty program offered by Loblaw .

Loblaw is selling all 213 of its gas stations across the country for 0 million to Brookfield Business Partners and its partners. On Tuesday, Parkland announced a .5 billion deal to buy Chevron Canada’s downstream fuel business, including 129 retail gas stations in the Vancouver area and the

TORONTO - Loblaw is selling all 213 of its gas stations across the country for $540 million to Brookfield Business Partners and its partners.

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TORONTO — Loblaw is selling all 213 of its gas stations across the country for 0 million to Brookfield Business Partners and its partners. While Brookfield (TSX:BBU.UN) would rebrand the stations to Mobil, they would continue to use the PC Plus loyalty program offered by Loblaw (TSX:L)

Loblaw is selling all 213 of its gas stations across the country for 0 million to Brookfield Business Partners and its partners. On Tuesday, Parkland announced a .5 billion deal to buy Chevron Canada’s downstream fuel business, including 129 retail gas stations in the Vancouver area and the

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While Brookfield (TSX:BBU.UN) would rebrand the stations to Mobil, they would continue to use the PC Plus loyalty program offered by Loblaw (TSX:L).

The proposed deal is subject to certain conditions, but is expected to close in this year's third quarter.

Brookfield Business Partners, a unit of Brookfield Asset Management (TSX:BAM.A), says it sees potential for expanding the network of Loblaw-owned gas stations and associated kiosks after the deal closes.

"This transaction aligns with our strategy of owning and adding value to high quality businesses with solid long-term fundamentals in sectors we know well," Cyrus Madon, CEO of Brookfield Business Partners, said in a statement Wednesday.

Are big city downtown gas stations on the way out?

  Are big city downtown gas stations on the way out? Vancouver's last downtown gas station is up for sale, and the rising cost of property in other major Canadian cities is putting similar pressures on gas stations elsewhere. The surging cost of real estate in the city is adding pressure to shut down businesses like gas stations, sell the properties, and build dense, lucrative developments like condominiums.

TORONTO – Loblaw is selling all 213 of its gas stations across the country for 0 million to Brookfield Business Partners and its partners. While Brookfield (TSX:BBU.UN) would rebrand the stations to Mobil, they would continue to use the PC Plus loyalty program offered by Loblaw (TSX:L)

TORONTO — Loblaw is selling all 213 of its gas stations across the country for 0 million to Brookfield Business Partners and its partners. While Brookfield (TSX:BBU.UN) would rebrand the stations to Mobil, they would continue to use the PC Plus loyalty program offered by Loblaw (TSX:L)

"We look forward to working with Loblaw to enhance and grow the current network of gas stations."

Brookfield said it would use the Mobil fuel brand under an agreement with Calgary-based Imperial Oil Ltd. (TSX:IMO), a subsidiary of Houston-based ExxonMobil, one of the biggest integrated oil and gas companies in the United States.

Loblaw, Canada's largest operator of grocery and pharmacy stores, is the latest company to divest its gas stations, which have been largely purchased by companies that focus on fuel distribution or convenience stores.

Last year, Imperial Oil sold its remaining 497 Esso retail stations in Canada to five buyers for a total of $2.8 billion.

Among the buyers was Parkland Fuel Corp. of Red Deer, Alta., which acquired Imperial Oil's On the Run/Marche Express convenience store franchise system and 17 Esso stations.

On Tuesday, Parkland (TSX:PKI) announced a $1.5 billion deal to buy Chevron Canada's downstream fuel business, including 129 retail gas stations in the Vancouver area and the Chevron refinery in Burnaby, B.C.

Loblaw said it expects to use proceeds from the sale of its fuel business for its corporate activities.

"This is a positive outcome for our customers, our gas station operators, and our company," said Sarah Davis, the president of Loblaw Companies Ltd., in a news release.

Vancouver Could Become Canada's 1st City Without A Downtown Gas Station .
Vancouver's second-last downtown gas station sold to a development company for a bargain price of $72 million, and now its last fuel centre is on the market. define("homepageFinanceIndices", ["c.deferred"], function () { var quotesInArticleFormCode = "PRMQAP"; var config = {}; config.indexdetailsurl = "/en-ca/money/indexdetails"; config.stockdetailsurl = "/en-ca/money/stockdetails"; config.funddetailsurl = "/en-ca/money/funddetails"; config.etfdetailsurl = "/en-ca/money/etfdetails"; config.recentquotesurl = "/en-ca/money/getrecentquotes"; config.

Source: http://ca.pressfrom.com/news/money/-24057-brookfield-to-buy-all-213-loblaw-gas-stations/

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