Husky Energy Inc. announced Dec. 10 that it has entered an agreement with Suncor Energy Inc. and Suncor Energy Products Inc. to purchase 98 retail outlets in the Ontario market. Financial terms of the deal were not disclosed.

With the addition of these stations, Husky would have a total of 571 retail stations covering British Columbia to the Ontario/Quebec border. The transaction, which is subject to approval by the Commissioner of Competition, will establish Husky’s position as one of the leading gas retailers in the southern Ontario market.

“This is an exciting development for Husky Energy,” said John C.S. Lau, president and CEO of Husky Energy Inc. “These facilities are in proximity to our U.S. Refining assets and the downstream integration grows our presence in the highly urbanized and densely populated Ontario market from 30 stations to 128.”

Lau said the deal not only represents “an attractive opportunity” for its shareholders, but it also “further strengthens the company’s strategy of being a fully integrated oil and gas business.”

Suncor agreed to divest the retail stations under an agreement with the Commissioner of Competition in July as part of its merger with Petro-Canada.