Stay updated with breaking news from Kris Smith. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
CALGARY — Suncor Energy Inc. will buy out Teck Resources Ltd.'s 21.3 per cent stake in the Fort Hills oilsands project for approximately $1 billion, the two companies announced late Wednesday.
Suncor Energy Inc. will buy out Teck Resources Ltd.'s 21.3 per cent stake in the Fort Hills oilsands project for approximately $1 billion, the two companies announced late Wednesday.
Teck Resources to offload its 21.3% stake in Fort Hills oil sands project in Canada to Suncor Energy for around C$1bn ($737m).
Teck said the deal will lead to a non-cash impairment charge of about C$950 million in the third quarter.
Teck Resources (TSX: TECK.A | TECK.B; NYSE: TECK), Canada’s largest diversified miner, is exiting the oilsands business with the sale of its 21.3% stake […]