In addition to its Burnaby refinery, Parkland operates approximately 4,000 fuel and convenience retail stores and commercial locations across Canada, the United States and the Caribbean.
CALGARY — Tensions between Parkland Corp. and Simpson Oil, its largest shareholder, continue to escalate, with the Cayman Islands-based Simpson announcing this week it has launched a lawsuit against the fuel retailer.
At the time, Simpson agreed to a range of provisions aimed at ensuring it would not be able to exercise undue influence and control over Parkland in pursuing its own interests. "Simpson Oil remains committed to protecting shareholder rights for the benefit of all shareholders, and will hold Parkland's board and chief executive officer accountable for the proper exercise and performance of their duties," Simpson said in news release.
Another shareholder, activist investor Engine Capital LP, has urged Parkland to sell or spin off its Burnaby, B.C., refinery — a call Parkland's board has rejected.
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