March 12 (Reuters) - Tidewater Midstream and Infrastructure Ltd TWM.TO :
* TIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD. ANNOUNCES AN ACCELERATED DELEVERAGING PLAN THROUGH THE ACCRETIVE DISPOSITION OF THE PIONEER PIPELINE AS WELL AS ADDITIONAL COMMERCIAL ARRANGEMENTS AT THE BRAZEAU RIVER COMPLEX
* TIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD - WITH PARTNER ENTERED LOI TO SELL PIONEER PIPELINE TO NOVA GAS TRANSMISSION FOR $255.0 MILLION
* TIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD - PROCEEDS OF DEAL WILL BE SPLIT EQUALLY BETWEEN TIDEWATER AND TRANSALTA
* TIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD - TRANSALTA WILL PAY CO ADDITIONAL $10.5 MILLION FOR SOME ANCILLARY ASSETS NOT INCLUDED IN PIONEER DEAL
* TIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD - NGTL AND CO HAVE ALSO AGREED TO TERMS AND CONDITIONS TO QUALIFY TIDEWATER FOR NGTL SERVICES
* TIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD - PROPOSED TRANSACTIONS RESULT IN NET PROCEEDS TO CO OF $138.0 MILLION
* TIDEWATER MIDSTREAM AND INFRASTRUCTURE - PROPOSED DEAL, NGTL SERVICES ARE EXPECTED TO BE 30% ACCRETIVE TO EARNINGS PER SHARE ON PROFORMA BASIS TO CO'S 2020 GUIDANCE
* TIDEWATER MIDSTREAM AND INFRASTRUCTURE - PROPOSED DEALS, NGTL SERVICES EXPECTED TO BE 15% ACCRETIVE TO YEAR-END 2020 NET DEBT TO ADJUSTED EBITDA
* TIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD - INTENDS TO USE PROCEEDS FROM PROPOSED TRANSACTIONS TO REDUCE DEBT