Suncor, Petro-Canada merger approved

Canada’s Competition Bureau has approved the proposed merger of Suncor and Petro-Canada.

Offshore staff

CALGARY, Canada -- Canada’s Competition Bureau has approved the proposed merger of Suncor and Petro-Canada.

The approval is reflected in a consent agreement with the Competition Bureau, which will be registered with the Competition Tribunal in Ottawa. Under the consent agreement the companies have agreed to take steps to maintain retail and wholesale competition in Ontario, including divesting 104 retail locations, and entering into certain supply and throughput arrangements in Ontario for a period of 10 years.

With all the conditions necessary to complete the merger satisfied, Suncor and Petro-Canada intend to make the merger effective on Aug. 1.

07/22/2009

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