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By Wendy Perch

PG Refinery Sale Agreement Reached

Husky Energy announces agreement to sell Prince George refinery

Oct 4, 2019 | 7:22 AM

PRINCE GEORGE–Husky Energy has reached an agreement to sell its Prince George Refinery to Tidewater Midstream and Infrastructure for $ 215 million in cash, plus a closing adjustment for inventory, and a contingent payment of up to $60 million over two years.

Husky previously announced it was considering selling the Prince George refinery to focus on its Integrated Corridor and Offshore Businesses .

CEO Rob Peabody says they’ll continue to deliver on Husky’s five year plan, aimed at further enhancing the resiliency of the company.

Tidewater is retaining all refinery staff. The transaction is expected to close in the fourth quarter of 2019,subject to regulatory approvals.