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Husky Energy mulls sale of noncore Canadian downstream assets

Husky Energy Inc. on Jan. 8 said it is exploring the sale of its noncore Canadian downstream assets as the Calgary, Alberta-based company turns its attention towards its core assets in its integrated corridor along with its offshore business in Atlantic Canada and the Asia-Pacific region.

The assets includes the company's retail and commercial network consisting of more than 500 stations, travel centers, cardlock operations and bulk distribution facilities in British Columbia to New Brunswick and the 12,000-barrel per day Prince George refinery, located in Prince George, British Columbia.

The company adds that the decision to explore the sale of those assets was "independent" of the result of its proposed acquisition of MEG Energy Corp.

TD Securities Inc. is acting as financial adviser, with Torys LLP acting as legal adviser.