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BRIEF-Inter Pipeline To Acquire Milk River Pipeline System In Exchange For Empress II And V Straddle Plants

Published 2020-09-28, 08:13 a/m
© Reuters.
IPL
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Sept 28 (Reuters) - Inter Pipeline Ltd IPL.TO :

* INTER PIPELINE TO ACQUIRE MILK RIVER PIPELINE SYSTEM IN EXCHANGE FOR EMPRESS II AND V STRADDLE PLANTS

* INTER PIPELINE LTD - PLAINS WILL ALSO PAY INTER PIPELINE CASH PROCEEDS OF $35 MILLION.

* INTER PIPELINE LTD - AGREED TO ACQUIRE MILK RIVER PIPELINE SYSTEM FROM PLAINS MIDSTREAM CANADA ULC

* INTER PIPELINE - DEAL EXPECTED TO BE ACCRETIVE TO FFO & PROVIDE MEANINGFUL OPERATIONAL, COMMERCIAL SYNERGIES WITH EXISTING OIL TRANSPORTATION BUSINESS

* INTER PIPELINE - TO ACQUIRE PIPELINE SYSTEM IN EXCHANGE FOR 100% OWNERSHIP INTEREST IN EMPRESS II, 50% OWNERSHIP INTEREST IN EMPRESS V STRADDLE PLANTS

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