Pembina closes deal on Kinder Morgan, Cochin Pipeline
Pembina Pipeline Corporation announced it has completed the acquisition of Kinder Morgan Canada Limited and the U.S. portion of the Cochin Pipeline system.
“We are pleased to have closed the highly strategic Kinder Morgan Transaction earlier than originally expected, which will allow us to realize a full year of contribution from these assets in 2020,” said Mick Dilger, Pembina’s president and CEO. “The newly acquired assets provide enhanced integration within our existing franchise, entrance into exciting new businesses and clear visibility to creating long-term value for our shareholders.”
Dilger added that they will now focus on completing the integration activities and will pursue the $100 million of additional run-rate adjusted EBITDA they expect to realize over the coming years.