October 31, 2016 / 10:47 AM / a year ago

HollyFrontier to buy Suncor's Petro-Canada lubricants unit for C$1.13 bln

Oct 31 (Reuters) - Oil refiner HollyFrontier Corp said it had agreed to buy Suncor Energy Inc’s Petro-Canada lubricants unit for C$1.13 billion ($844.2 million).

The deal will immediately add to HollyFrontier’s earnings per share and cash flow, the company said on Monday.

Reuters last week reported that HollyFrontier was in advanced talks to acquire Suncor’s Petro-Canada lubricants division for a little over $1 billion, after submitting the highest bid in an auction, citing people familiar with the matter. ($1 = C$1.34) (Reporting by Anet Josline Pinto in Bengaluru; Editing by Shounak Dasgupta)

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