Irving Oil conducting strategic review that may include possible sale of business

Irving Oil Ltd., owner of Canada’s largest refinery, could put itself up for sale as part of a strategic review of the 99-year-old family-controlled company.

In a statement on Wednesday, Saint John-based Irving said it is studying a number of options for the future of the company, which operates in Atlantic Canada, the United States and Europe. “No decisions have been made about where this strategic review may lead. Consideration will be given to a new ownership structure, a full or partial sale, or a change in the portfolio of our assets and how we operate them,” said the statement, which was signed by billionaire and company owner Arthur Irving, Irving Oil President Ian Whitcomb and Vice-President Sarah Irving.

Irving runs the 320,000 barrel-a-day Saint John refinery, as well as a 75,000 barrel-a-day plant in Cork County, Ireland. It also has a chain of gas stations in Eastern Canada and New England as well as wholesale and fuel trading businesses.

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Strategic review of Irving Oil under way, including possible sale of businessIn a statement on its website, Irving Oil says consideration will be given to a new ownership structure, a full or partial sale, or a change in its portfolio of assets and how it operates them
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Irving Oil considers sale of company as part of strategic review | CBC NewsIrving Oil, one of the largest and most powerful companies in New Brunswick, has launched a strategic review that will consider, among other things, 'a full or partial sale' of the company, according to a statement issued Wednesday.
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Irving Oil considers selling business, company launches strategic review | Globalnews.caIrving Oil says a strategic review of the company is underway and that it is looking at a series of options about its future, including a possible sale of the business.
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