Post by
newcoin on Jun 06, 2024 10:34am
Propane Sales
Parkland selling propane biz: Parkland Fuels has struck a deal to sell its Canadian commercial propane business to Avenir Energy for $115 million. The company says the deal is a big step toward its goal of selling off $500 million worth of non-core assets by the end of next year to focus on the main part of its business. The company has been under pressure from activist investors to turn its operations around or consider strategic alternatives, including a sale of the business. The company’s shares are down by about 18 per cent since February.
Comment by
Schussing56 on Jun 10, 2024 2:40am
Yeah, seems like Parkland's propane assets would have been a perfect fit for Superior (t.spb) but instead, are now going to an American co. If Superior didn't bet their entire future on hydrogen they would have had enough money to make a competitive bid on these Parkland assets.
Comment by
Baystboy07 on Jun 11, 2024 1:55pm
Would have never gotten competition approval.