From Financial Post

Suncor Energy Inc. has launched an auction of its Petro-Canada lubricants division, whose white mineral oils are sprayed on gummy bear candy to make it shiny and prevent sticking, people familiar with the matter said.

The sale could fetch around $800 million and help Canada’s biggest energy company pay down debt incurred by recent acquisitions, the sources said this week.

Calgary, Alberta-based Suncor, which merged with Petro-Canada in 2009, is working with Bank of America Corp on the sale process, said the sources, asking not to be identified because the matter is confidential.

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