The federal government will review, under the Investment Canada Act, the purchase of Calgary-based Parkland Corporation by U.S. gasoline giant Sunoco, announced last week. Under the act, Ottawa can disallow a foreign takeover if it finds there is likely to be damage to the national interest. Sunoco wants to buy Parkland, a Canadian firm, for US$9.1 billion.
Parkland has 4,000 retail locations in 26 countries, and operates gas stations under the Chevron, Esso, and Fas Gas Plus brands. It also holds the rights to the On The Run gas station convenience brand. Ian White moved from Parkland last November, where he was president of Parkland Canada, to become president of Home Hardware Stores Ltd.
