Keyera Corp said on Tuesday it has entered into a definitive agreement to buy substantially all of Plains’ Canadian natural gas liquids business, plus select U.S. assets, for $5.15 billion in cash.
The buyout expands Keyera’s position with a fully connected natural gas liquids corridor stretching from western to eastern Canada, the company said.
Keyera said the acquired assets include NGL extraction, fractionation, storage, as well as rail and truck terminals located across Alberta, Saskatchewan, Manitoba and Ontario.
---
Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Alan Bar.
