Pembina Pipeline gets Kinder Morgan Canada for $ 4.35B

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Pembina Pipeline has entered into an agreement to acquire Kinder Morgan Canada and the US portion of the Cochin Pipeline in a transaction valued at approximately $ 4.35 billion.

At the conclusion of the deal with Kinder Morgan, Pembina also announced Wednesday that its quarterly dividend would be increased by 1 cent per share, to 21 cents.

The Cochin pipeline extends 2900 kilometers from Fort Saskatchewan, Alberta, to Chicago, with an estimated daily capacity of 110,000 barrels.

The agreement also includes a facility in Edmonton and Vancouver Wharves.

A portion of the transaction, approximately $ 2.3 billion, is settled in shares. Pembina also pays nearly $ 2.05 billion in cash to Kinder Morgan Cochin LLC.



Source link
https://ici.radio-canada.ca/nouvelle/1269394/alberta-cochin-entente-achete-petrole-oleoduc-transaction

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