Oct 10 (Reuters) - Parkland Fuel Corp PKI.TO :
* PARKLAND FUEL CORPORATION TO ACQUIRE 75% OF SOL, THE LARGEST INDEPENDENT FUEL MARKETER IN THE CARIBBEAN
* PARKLAND FUEL CORP - DEAL FOR US$1.21 BILLION
* PARKLAND FUEL CORP - DEAL EXPECTED TO BE IMMEDIATELY ACCRETIVE TO PARKLAND'S DISTRIBUTABLE CASH FLOW PER SHARE BY ABOUT 17 PERCENT
* PARKLAND FUEL CORP - TRANSACTION AND RELATED FEES AND EXPENSES WILL BE FINANCED BY PARKLAND WITH A FULLY UNDERWRITTEN FINANCING PACKAGE
* PARKLAND FUEL CORP - UPON CLOSING SIMPSON GROUP, THROUGH ITS OWNERSHIP IN SOL LIMITED, WILL OWN ABOUT 9.9 PCT OF ISSUED & OUTSTANDING SHARES IN PARKLAND
* PARKLAND FUEL CORP - DEAL ALSO INCLUDES SOL LIMITED ACQUIRING 12.16 MILLION COMMON SHARES IN CAPITAL OF PARKLAND
* PARKLAND FUEL CORP - TRANSACTION WILL RESULT IN PARKLAND ACQUIRING 75 PCT OF ISSUED AND OUTSTANDING SHARES IN CAPITAL OF SIL
* PARKLAND FUEL CORP - FINANCING FOR TRANSACTION WILL ENABLE PARKLAND'S PRO FORMA TOTAL LEVERAGE RATIO TO REMAIN BELOW 3.5X
* PARKLAND FUEL CORP - CLOSING IS EXPECTED TO OCCUR IN LATE Q4 2018
* PARKLAND FUEL CORP - EXPECTS TO REPLACE TERM FACILITY WITH ALTERNATIVE LONGER-TERM DEBT PRIOR TO CLOSING OF TRANSACTION