Suncor announced that its acquisition of Canadian Oil Sands (COS) has been completed following shareholder approval. Suncor, through a wholly owned subsidiary, acquired almost 16% of the outstanding COS shares and now owns 100% of the issued and outstanding shares.
“Today marks the final step required to complete the COS acquisition,” said Steve Williams, Suncor president and chief executive officer. “We’re looking forward to working cooperatively with Syncrude to steadily improve asset performance, reduce costs and explore synergy opportunities.”
Suncor Energy is Canada’s leading integrated energy company. Suncor’s operations include oil sands development and upgrading, conventional and offshore oil and gas production, petroleum refining, and product marketing under the Petro-Canada brand.