{"id":1133910,"date":"2019-08-21T15:50:38","date_gmt":"2019-08-21T20:50:38","guid":{"rendered":"https:\/\/www.mining.com\/?p=999975"},"modified":"2019-08-21T15:50:38","modified_gmt":"2019-08-21T20:50:38","slug":"kinder-morgan-canada-acquired-by-pembina-pipeline-in-4bn-deal","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1133910","title":{"rendered":"Kinder Morgan Canada acquired by Pembina Pipeline in $4bn deal"},"content":{"rendered":"<p>Pembina Pipeline Corporation (TSX:PPL) is set to acquire the former owner of the Trans Mountain pipeline in a deal pegged at $4.35 billion.<\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>Calgary-based Pembina announced Wednesday (August 21) plans to buy Kinder Morgan Canada Ltd. (TSX:KML) and the U.S. portion of the Cochin pipeline, which runs 2,900 kilometres from Fort Saskatchewan to Chicago.<\/p>\n<p>The American portion of the pipeline is owned by Kinder Morgan Inc., a separate entity from Kinder Morgan Canada.<\/p>\n<p>The transaction values Kinder Morgan Canada at $2.3 billion, or $15.02 per share, while the American Cochin assets are valued at $2.05 billion for cash consideration.<\/p>\n<p>&#8220;This acquisition is highly strategic for Pembina, providing enhanced integration with our existing franchise, entrance into exciting new businesses and clear visibility to creating long-term value for our shareholders,&#8221; said Pembina president and CEO Mick Dilger said in a statement.<\/p>\n<p>The deal also includes Vancouver Wharves, a 51-hectare bulk marine terminal facility transferring more than 4 million tonnes of bulk cargo annually.<\/p>\n<p>Pembina said it has already identified a number of expansion possibilities for Vancouver Wharves.<\/p>\n<p>The pending sale comes about a year after Ottawa closed a deal to acquire the controversial Trans Mountain pipeline from Kinder Morgan Canada for $4.5 billion.<\/p>\n<p>Since then, Kinder Morgan Canada has been dipping its toes on the market but found no takers until this deal.<\/p>\n<p><em>(This article first appeared in <a href=\"https:\/\/biv.com\/\"  rel=\"noreferrer noopener\" aria-label=\"Business in Vancouver (opens in a new tab)\">Business in Vancouver<\/a>)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pembina announced plans to buy Kinder Morgan Canada and the U.S. portion of the Cochin pipeline, which runs 2,900 kilometres from Fort Saskatchewan to Chicago.<\/p>\n","protected":false},"author":47,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[1035,369],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1133910"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/47"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1133910"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1133910\/revisions"}],"predecessor-version":[{"id":1133911,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1133910\/revisions\/1133911"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1133910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1133910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1133910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}