Parkland and Federated Co-operatives to acquire Husky retail fuels network and the Wembley assets from Cenovus Energy for $517m.

Parkland, a firm that markets and distributes gasoline, diesel, propane, lubricants, heating oil, and other petroleum products, and Federated Co-operatives, a multi-faceted organization, agreed to acquire Husky retail fuels network and the Wembley assets from Cenovus Energy, an integrated oil company, for $517m. “This is another demonstration of Cenovus delivering on opportunities to continue to optimize our portfolio and unlock value from assets that will not attract significant investment in our business. With these latest transactions, we now expect to realize more than $1.1bn of total proceeds from sales announced in 2021," Alex Pourbaix, Cenovus President & CEO.