08:56 AM EDT, 04/01/2024 (MT Newswires) -- Pembina Pipeline Corporation ( PBA ) completed Monday its previously announced acquisition of Enbridge's ( ENB ) interest in the Alliance, Aux Sable, and NRGreen joint ventures.

A statement noted the approximately $3.1 billion purchase price for the transaction was funded, in part, from the net proceeds of Pembina's $1.28 billion bought deal offering of subscription receipts, which closed on December 19, 2023. With the closing of the transaction, each holder of Subscription Receipts will be entitled to receive, automatically and without additional consideration or further action on the part of the holder, one common share of Pembina. On March 28, 2024, Pembina made a cash payment per Subscription Receipt, to holders of Subscription Receipts of record as of March 15, 2024, of $0.6675, such amount being equal to the dividend per common share paid on such date to holders of common shares. No further Dividend Equivalent Payment will be paid or is payable to holders of Subscription Receipts in connection with closing of the transaction.

In conjunction with closing, Pembina updated its 2024 adjusted EBITDA guidance range to $4.05-$4.30 billion (prior $3.725 billion to $4.025 billion). Relative to Pembina's prior guidance, the revised outlook for 2024 primarily reflects the incremental contribution from increased ownership of Alliance and Aux Sable, as well as a stronger outlook in the marketing business.