Pembina Pipeline To Buy Kinder Morgan Canada - Quick Facts

(RTTNews) - Pembina Pipeline Corp. (PPL.TO, PBA) said it will acquire Kinder Morgan Canada Limited (KML.TO) and Cochin US from Kinder Morgan. The deal values Kinder Morgan Canada at approximately C$2.3 billion, or C$15.02 per share. Total purchase price is approximately C$4.35 billion. The deal includes the U.S. portion of the Cochin Pipeline system, the Edmonton storage and terminal business and Vancouver Wharves, a bulk storage and export/import business.

The company said the transaction will be immediately accretive to adjusted cash flow per share.

Pembina's board has approved a C$0.01 per share, or approximately five percent, increase to its monthly share dividend rate.