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BRIEF-Pembina Pipeline To Acquire Kinder Morgan Canada And Cochin Pipeline For $4.35 Bln

Published 2019-08-21, 07:02 a/m
© Reuters. BRIEF-Pembina Pipeline To Acquire Kinder Morgan Canada And Cochin Pipeline For $4.35 Bln
PPL
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Aug 21 (Reuters) - Pembina Pipeline Corp PPL.TO :

* PEMBINA PIPELINE CORPORATION TO ACQUIRE KINDER MORGAN CANADA AND THE COCHIN PIPELINE FOR $4.35 BILLION AND INCREASE DIVIDEND

* PEMBINA PIPELINE CORP - TRANSACTION VALUES KINDER MORGAN CANADA AT APPROXIMATELY $2.3 BILLION, OR $15.02 PER SHARE

* PEMBINA PIPELINE CORP - TRANSACTION WILL BE IMMEDIATELY ACCRETIVE TO ADJUSTED CASH FLOW PER SHARE

* PEMBINA PIPELINE - OFFERING TO BUY EACH OF OUTSTANDING RESTRICTED VOTING SHARES AND EACH CLASS B UNIT IN EXCHANGE FOR 0.3068 OF A COMMON SHARE OF CO

* PEMBINA PIPELINE - CASH PORTION OF COCHIN US DEAL TO BE INITIALLY FUNDED WITH $2.5 BILLION UNSECURED CREDIT FACILITY, NEW $1 BILLION COMMITTED TERM FACILITY

* PEMBINA PIPELINE - BOARD APPROVED $0.01 PER COMMON SHARE, OR ABOUT FIVE PERCENT, INCREASE TO ITS MONTHLY COMMON SHARE DIVIDEND RATE.

* PEMBINA PIPELINE CORP - ASSETS BEING ACQUIRED IN TRANSACTION ARE EXPECTED TO GENERATE ADJUSTED EBITDA OF APPROXIMATELY $350 MILLION IN 2019

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