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Pembina gets Canadian regulatory approval to buy Enbridge's interest in JVs
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Pembina gets Canadian regulatory approval to buy Enbridge's interest in JVs
Mar 19, 2024 4:46 AM

March 19 (Reuters) - Pembina Pipeline ( PBA ) said on

Tuesday the Canadian Competition Bureau has approved its

proposed C$3.1 billion ($2.28 billion) acquisition of

Enbridge's ( ENB ) interests in the Alliance, Aux Sable, and

NRGreen joint ventures.

The deal is expected to close on April 1, Pembina said.

Alliance delivers liquids-rich natural gas sourced in

Northeast B.C., Northwest Alberta and the Bakken region to

Chicago.

Aux Sable operates natural gas liquids (NGL) extraction and

fractionation facilities in both Canada and the U.S., with

extraction rights on Alliance, offering connectivity to key U.S.

NGL hubs.

Enbridge ( ENB ) announced the deal in December to reduce its debt

following its $14 billion offer for three of Dominion Energy's ( D )

natural gas distribution companies in September.

($1 = 1.3568 Canadian dollars)

(Reporting by Sourasis Bose in Bengaluru; Editing by Shilpi

Majumdar abd Sriraj Kalluvila)

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