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All regulatory approvals necessary to close AltaGas Ltd.'s acquistion of WGL Holdings, Inc. now achieved
All regulatory approvals necessary to close AltaGas Ltd.'s acquistion of WGL Holdings, Inc...
About this update from Altagas Ltd.
[{"type":"text","content":"\n\n\n\nAll regulatory approvals necessary to close AltaGas Ltd.'s acquistion of WGL Holdings, Inc. now achieved\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, July 2, 2018\n\n\n\nTransaction Expected to Close July 6, 2018\n\n\n\nCALGARY, July 2, 2018 /CNW/ - AltaGas Ltd. (AltaGas) (TSX:ALA) and WGL Holdings, Inc. (WGL) (NYSE:WGL) announced today that they and the other parties to the unanimous settlement agreement dated May 8, 2018, have accepted the conditions outlined in the June 29, 2018 written Order of the Public Service Commission of the District of Columbia (DC PSC) approving the combination of AltaGas and WGL (the WGL Acquisition). A statement of acceptance was filed with the DC PSC today. With all approvals now received, the closing of the WGL Acquisition is scheduled for July 6, 2018.\n\n\"We are pleased to announce that the Public Service Commission of the District of Columbia has approved our acquisition of WGL after a rigorous regulatory review process,\" said Mr. David Harris, President and Chief Executive Officer of AltaGas. \"The conditions crafted by the Commission are in alignment with the unanimous settlement agreement and the commitments made by AltaGas to safeguard and advance the public interest. This approval is the final one in a very comprehensive regulatory process, which required six key regulatory approvals including the states of Maryland and Virginia, as well as the District of Columbia.  \n\n\"As we look forward, we see significant opportunity to be at the forefront of the new energy economy. The combination of AltaGas and WGL is a powerful one, with a North American footprint comprised of over $20 billion of high quality, low-risk and long-lived infrastructure assets, and one which provides meaningful benefits for both customers and shareholders,\" concluded Mr. Harris.\n\nThe approval by the DC PSC follows AltaGas and WGL's May 8th announcement of a unanimous settlement agreement with the key stakeholders in the District of Columbia regulatory proceedings in connection wi...