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Pembina Pipeline Corporation Receives Canadian Competition Bureau Approval for the Proposed Acquisition of Kinder Morgan Canada
Pembina Pipeline Corporation Receives Canadian Competition Bureau Approval for the Propose...
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[{"type":"text","content":"\n\n\n\nPembina Pipeline Corporation Receives Canadian Competition Bureau Approval for the Proposed Acquisition of Kinder Morgan Canada\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\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Nov. 20, 2019\n\n\n\nCALGARY, Nov. 20, 2019 /CNW/ - Pembina Pipeline Corporation (\"Pembina\" or the \"Company\") (TSX: PPL; NYSE: PBA) is pleased to announce that it and Kinder Morgan Canada Limited (\"Kinder Morgan Canada\") (TSX:KML) have received a \"no-action letter\" from the Canadian Competition Bureau confirming that the Commissioner of Competition does not intend to challenge the proposed acquisition by Pembina of Kinder Morgan Canada's outstanding common equity by way of a statutory arrangement under the Business Corporations Act (Alberta) (the \"Arrangement\"). \nThe receipt of the \"no-action letter\" satisfies the last material regulatory condition necessary for completion of the Arrangement. The Arrangement is now expected to close in December 2019, subject to approval of the Arrangement by the holders of Kinder Morgan Canada's restricted voting shares and special voting shares at the special meeting scheduled for Tuesday, December 10, 2019, receipt of the final order of the Court of Queen's Bench of Alberta at the application scheduled for the same date, the concurrent completion of the sale of the U.S.-regulated Cochin pipeline system from Kinder Morgan, Inc. to Pembina and satisfaction of other customary closing conditions. \nFurther information regarding the Arrangement is provided in the management information circular and proxy statement of Kinder Morgan Canada dated November 4, 2019. \nAbout Pembina\nCalgary-based Pembina Pipeline Corporation is a leading transportation and midstream service provider that has been serving North America's energy industry for 65 years. Pembina owns an integrated system of pipelines that transport various hydrocarbon liquids and natural gas products produced primarily in western Canada. The Company also owns gas gathering and processing facilities; an oil and natural gas liquids infrastructure and logistics busi...