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     812  0 Kommentare Parkland Fuel Corporation Settles Litigation With the Commissioner of Competition

    RED DEER, AB--(Marketwired - March 29, 2016) - Parkland Fuel Corporation ("Parkland") (TSX: PKI), one of North America's fastest growing distributors and marketers of fuels and lubricants, is pleased to announce that it has settled its litigation with the Commissioner of Competition (the "Commissioner") in connection with its acquisition of the assets of Pioneer Energy (the "Pioneer Acquisition") announced on June 3, 2015 and completed on June 25, 2015.

    The Commissioner was challenging the Pioneer Acquisition on the basis that it was likely to result in a substantial lessening or prevention of competition in the retail supply of gasoline in 14 local markets in Ontario and Manitoba.

    A Consent Agreement between Parkland and the Commissioner to settle the litigation (the "Settlement") was filed with the Competition Tribunal on March 29, 2016. As part of the Settlement, no remedy was required in six of the original 14 contested markets - Chelmsford/Azilda, Gananoque, Port Perry, Allanburg, Aberfoyle and Welland, Ontario. In two of the contested markets -- Lundar and Warren, Manitoba -- Parkland has agreed that for a six-year period it will not increase dealer prices relative to rack prices or delivery fees charged to dealers other than in certain circumstances. In five other markets -- Bancroft, Hanover, Innisfil and Tillsonburg, Ontario, and Neepawa, Manitoba -- Parkland has agreed to divest either a fuel supply agreement with a dealer that it supplies or a corporate site in each market. In each of these markets Parkland intends to divest or terminate a fuel supply agreement. In Kapuskasing, Ontario, Parkland has agreed to sell a corporate-owned gas station. In aggregate, Parkland estimates that the Settlement will result in a reduction of sales volumes of less than 1% of the Pioneer Acquisition volumes and a negligible impact on the bottom line.

    "Parkland is a vigorous competitor with many strong regional and national brands. We are particularly proud of the value that the Pioneer brand brings and what it means to consumers across Ontario," said Bob Espey, Parkland's President and CEO. "The Settlement is consistent with what Parkland has asserted from the beginning -- we do not influence pricing to dealers in order to increase prices at the pump. The remedies relate to a small number of rural markets and will only have a nominal impact on our business."

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    Parkland Fuel Corporation Settles Litigation With the Commissioner of Competition RED DEER, AB--(Marketwired - March 29, 2016) - Parkland Fuel Corporation ("Parkland") (TSX: PKI), one of North America's fastest growing distributors and marketers of fuels and lubricants, is pleased to announce that it has settled its litigation …