Parkland Corporation Announces Completion of Acquisition by Sunoco LP

Rhea-AI Summary

Parkland Corporation announced that Sunoco LP completed its acquisition of Parkland on October 31, 2025. Parkland shares are expected to be delisted from the Toronto Stock Exchange at market close on November 4, 2025 and will continue trading on TSX until then.

Parkland shareholders will receive Common Units of SunocoCorp LLC; those Common Units are expected to begin trading on the New York Stock Exchange under ticker SUNC on November 6, 2025 following settlement and allocation.

Positive

• Acquisition completed on October 31, 2025
• Parkland shareholders to receive SunocoCorp Common Units
• SunocoCorp Common Units to trade on NYSE as SUNC from Nov 6, 2025

Negative

• Parkland shares expected to be delisted from TSX at close on Nov 4, 2025
• Trading transition requires settlement and allocation before NYSE listing

CALGARY, AB, Nov. 3, 2025 /PRNewswire/ -- Parkland Corporation (TSX: PKI) ("Parkland") announced today that Sunoco LP ("Sunoco") completed the acquisition of Parkland on October 31, 2025 (the "Transaction").

Parkland shares are expected to be delisted from the Toronto Stock Exchange as of the close of markets on Tuesday, November 4, 2025, and, until such time, will continue to be traded on the Toronto Stock Exchange. The Common Units of SunocoCorp LLC ("SunocoCorp") to be received by Parkland shareholders in connection with the Transaction will begin trading on the New York Stock Exchange on Thursday, November 6, 2025 under the ticker symbol "SUNC" following the settlement of the Parkland shares and completion of the allocation process for the SunocoCorp Common Units.¹

About Sunoco and SunocoCorp

Sunoco LP (NYSE: SUN) is a leading energy infrastructure and fuel distribution master limited partnership operating across 32 countries and territories in North America, the Greater Caribbean, and Europe.  The Partnership's midstream operations include an extensive network of approximately 14,000 miles of pipeline and over 160 terminals. This critical infrastructure complements the Partnership's fuel distribution operations, which distribute over 15 billion gallons annually to approximately 11,000 Sunoco and partner-branded retail locations, as well as independent dealers and commercial customers.  SUN's general partner is owned by Energy Transfer LP (NYSE: ET).

SunocoCorp (NYSE: SUNC) is a publicly traded limited liability company that owns a direct limited partner interest in Sunoco LP.

SUN and SUNC are headquartered in Dallas, Texas. More information is available at www.sunocolp.com

Forward-Looking Statements

This news release may include certain statements concerning expectations for the future that are forward-looking statements or forward-looking information under applicable Canadian securities laws (collectively, "forward-looking statements"), including without limitation statements regarding the delisting of the Parkland shares from the Toronto Stock Exchange and the timing for the commencement of trading of the SunocoCorp Common Units on the New York Stock Exchange. Forward-looking statements often address future business and financial events, conditions, expectations, plans or ambitions, and often include, but are not limited to, words such as "believe," "expect," "may," "will," "should," "could," "would," "anticipate," "estimate," "intend," "plan," "seek," "see," "target" or similar expressions, or variations or negatives of these words, but not all forward-looking statements include such words. Forward-looking statements are based upon current plans, estimates, expectations and ambitions and are subject to a variety of known and unknown risks, uncertainties, assumptions and other factors that are difficult to predict, many of which are beyond management's control and that could cause actual results to differ materially from those expressed in such forward-looking statements, including factors associated with the timing for the completion of the de-listing process and the settlement procedures and allocation process for the delivery of SunocoCorp Common Units. These risks, as well as other risks associated with Parkland are discussed in Parkland's annual information for the year ended December 31, 2024 and other documents filed from time to time by Parkland with Canadian securities regulatory authorities. Parkland does not undertake any obligation to update or revise any forward-looking statement to reflect new information or events, unless required by law.

Contacts
Investors:
Scott Grischow, Treasurer, Senior Vice President – Finance
(214) 840-5660, scott.grischow@sunoco.com

Media:
Chris Cho, Senior Manager – Communications
(469) 646-1647, chris.cho@sunoco.com

¹ Sunoco indirectly acquired, through its wholly owned subsidiary 2709716 Alberta ULC (the "Purchaser"), all of the issued and outstanding Parkland shares. Immediately before the effective time, Sunoco did not own any Parkland shares. Each Parkland shareholder immediately before the effective time will receive, for each Parkland share held: (i) C$44.00 in cash, (ii) approximately 0.536 common units representing limited liability company interests in SunocoCorp ("SunocoCorp Units"), or (iii) C$19.80 in cash and 0.295 SunocoCorp Units, subject to elections, proration, maximum amounts and adjustments in accordance with the plan of arrangement, details of which may be found in the management information circular and proxy statement of Parkland dated May 26, 2025, resulting in total consideration of approximately C$3,457,770,643.42 in cash and 51,517,198 SunocoCorp Units. An early warning report will be filed under Parkland's SEDAR+ profile at www.sedarplus.ca. To obtain a copy, please contact Sunoco LP, 8111 Westchester Drive, Suite 400 Dallas, TX 75225, United States, Attn: Scott Grischow, Treasurer, Senior Vice President – Finance, Tel: (214) 840-5660. The Purchaser's address is 4200 Bankers Hall West, 888 – 3rd Street S.W., Calgary, Alberta T2P 5C5, Canada. Parkland's head office is located at Suite 1800, 240 4th Avenue SW, Calgary, Alberta T2P 4H4, Canada.

 

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SOURCE Parkland Corporation

FAQ

When did Sunoco LP complete its acquisition of Parkland (TSX: PKI)?

Sunoco LP completed the acquisition of Parkland on October 31, 2025.

When will Parkland (TSX: PKI) shares be delisted from the Toronto Stock Exchange?

Parkland shares are expected to be delisted at the close of markets on November 4, 2025.

What will Parkland (TSX: PKI) shareholders receive in the Sunoco LP transaction?

Parkland shareholders will receive Common Units of SunocoCorp LLC as consideration.

When will SunocoCorp Common Units begin trading on the NYSE and under what ticker?

SunocoCorp Common Units are expected to begin trading on the NYSE on November 6, 2025 under the ticker SUNC.

Will Parkland (TSX: PKI) shares continue trading before delisting on Nov 4, 2025?

Yes. Parkland shares will continue to trade on the Toronto Stock Exchange until the close of markets on November 4, 2025.

What condition must occur before SunocoCorp Common Units list on the NYSE?

NYSE trading of SunocoCorp Common Units is expected to follow settlement of Parkland shares and completion of the allocation process.