Loblaw is selling all 213 of its gas stations across the country for $540 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. 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, 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.

Source: thestar April 19, 2017 13:52 UTC