Wednesday, Jun 29, 2016
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Economy

Canadian firm gets OK to buy Lima refinery

Canada s Husky Energy Inc. has received U.S. antitrust approval to acquire Valero Energy Corp. s Lima, Ohio, refi nery, U.S. offi cials said yesterday.

Authorities completed their review of the $1.9 billion deal without taking any action to

block it, the U.S. Federal Trade Commission said in a notice.

Husky, of Calgary, Alberta, said last month it planned to buy the 165,000-barrel-a-day

Allen County refi nery to secure processing capacity for its expanding Canadian oil sands operations.

Valero, of San Antonio, Texas, is the biggest fuel producer in the United States and

decided to sell the Ohio refinery rather than invest in upgrading and expanding it.

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