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