Calgary-based Imperial Oil is selling its remaining 497 Esso retail stations in Canada.
The company announced last night it will sell the outlets to five fuel distributors by year’s end for 2.8-billion dollars.
Buyers include Alimentation Couche-Tard, 7-Eleven Canada and Parkland Fuel.
About two-thirds of the country’s 17-hundred Esso stations have been operated by wholesalers for 15 years, with the remainder now set to follow the same model.
(The Canadian Press)