Pembina Pipeline Corporation has announced that holders of Kinder Morgan Canada (KML) voting shares have approved the acquisition of KML by Pembina.
The arrangement sees the acquisition of KML’s businesses through all of its issued and outstanding shares and the Class B limited partnership units of Kinder Morgan Canada Limited Partnership, a wholly-owned subsidiary of Kinder Morgan Canada.
Also, the company received the final order from the Court of Queen’s Bench of Alberta approving the arrangement. As previously announced, all material regulatory conditions necessary for completion of the arrangement have been satisfied. Completion of the arrangement remains subject to other customary conditions to closing, including the concurrent completion of the sale of the U.S. portion of the Cochin pipeline system by Kinder Morgan, Inc. to Pembina, and is expected to occur on or about December 16, 2019.
For more information visit www.pembina.com