CALGARY, March 5 (Reuters) - Canadian fuel refiner and

retailer Parkland Corp ( PKIUF ) said on Wednesday it had

launched a strategic review that could result in the sale of the

company.

Calgary-based Parkland said the review was necessary to

"maximize value creation for shareholders" and would explore the

possibility of asset divestments, acquisitions and business

combinations in addition to an outright sale.

"This thing is all about best value to our owners - I can't

tell you how that's going to end up, but we're going to look at

everything," Parkland Chair Michael Jennings said in an

interview.

Parkland, which has a market value of about C$6 billion

($4.19 billion), has been under pressure with respect to its

share price performance for more than two years.

Most prominent in this has been a dispute with Simpson Oil,

its largest shareholder with a 20% stake. Simpson has called on

Parkland to conduct a strategic review on numerous occasions,

most recently in an open letter to Parkland's board dated

February 25.

Jennings said a dual aim of the strategic review was to help

bring Simpson back into the fold, and the company was now

inviting Simpson to rejoin the company's board and participate

in the strategic review.

Simpson has not had representation on the company's board

since the resignation of two Simpson-nominated directors in

December 2023. No reason for the resignations was given at the

time.

The strategic review announcement comes amid a widening

trade war between the United States and Canada, triggered by

U.S. President Donald Trump imposing tariffs on imports from its

northern neighbor.

When asked about whether the trade war might impact

buyer interest in Parkland from U.S. suitors, Jennings said much

was up in the air right now and it was hard to predict how long

a trade war might last.

"The announcement today really culminates a couple of months

of looking hard at this, absent the trade environment, and we

still think it's the right thing to do," he added.

($1 = 1.4335 Canadian dollars)