COME BY CHANCE, N.L. — Irving Oil has announced an agreement with the U.S. investment firm Silverpeak to purchase North Atlantic Refining Ltd.
The deal is reported to include North Atlantic's 135,000-barrels-per-day refinery in Come By Chance, N.L., its network of gas stations and stores across the province, and other marking assets.
"As a family-owned international refining and marketing company based in Atlantic Canada, Irving Oil has proudly served the people of Newfoundland and Labrador since 1950, providing a secure supply of energy to its customers across the province," reads a press release from Irving.
"NARL enjoys a fully integrated market presence and well-established ties to the communities it serves. With its deep-water terminal location and a network of retail assets, including both company and dealer sites, North Atlantic provides a reliable supply of fuel products to businesses and consumers across Newfoundland."
The sale is subject to regulatory review and conditions being met.
