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Competition Bureau Obtains Court Order in Investigation Into Keyera’s Deal to Buy U.S. Firm Plains
The watchdog is examining whether the $5.15-billion transaction would lessen competition and raise barriers to entry, with 87% of Alberta fractionation activity centered nearby, officials said.
- The Competition Bureau obtained a federal court order on Wednesday to gather information regarding Calgary-based Keyera Corp.'s proposed $5.15 billion acquisition of Plains Midstream Canada's natural gas liquids business.
- Announced last June, the transaction includes 193,000 barrels per day of "fractionation capacity," 23 million barrels of storage capacity, and more than 2,400 kilometres of pipeline infrastructure across Canada.
- The bureau is probing whether the merger would entrench Keyera's competitive position, noting that about 87 per cent of Alberta's fractionation activity occurs in and around Fort Saskatchewan.
- As part of the investigation, the bureau secured a court order requiring Inter Pipeline Ltd to produce records and information relevant to the potential merger.
- Keyera revealed last week that the acquisition is advancing slower than anticipated, with the company working toward closing the transaction in May rather than the end of the first quarter.
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The Toronto Star+6 Reposted by 6 other sources
Competition Bureau obtains court order in investigation into Keyera-Plains deal
GATINEAU - The Competition Bureau says it has obtained a court order to gather information related to Keyera Corp.'s proposed deal to buy the Canadian natural gas liquids business of
·Toronto, Canada
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Competition Bureau Probes Keyera’s $5.15 Billion Acquisition of Plains’ NGL Business
Canada’s Competition Bureau has secured a Federal Court order to advance its investigation into Keyera’s (TSX: KEY) proposed $5.15 billion acquisition of Plains All American Pipeline’s (NASDAQ: PAA) Canadian natural gas liquids business, raising concerns about potential impacts on competition in the oil and gas sector. The court order, issued on April 8, compels Inter Pipeline Ltd, another key player in the Canadian energy industry, to provide r…
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Total News Sources11
Leaning Left4Leaning Right3Center1Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
13%
R 37%
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