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Energy Transfer to sell interest in Energy Transfer Canada for $1.3b
Transactions - MARCH 3, 2022

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Energy Transfer to sell interest in Energy Transfer Canada for $1.3b

by Released

Energy Transfer has signed a definitive agreement to sell its 51 percent interest in Energy Transfer Canada ULC (Energy Transfer Canada) to a joint venture that includes participation by Pembina Pipeline Corp. and global infrastructure funds managed by KKR at a valuation of approximately C$1.6 billion ($1.3 billion) including debt and preferred equity.

The sale is expected to result in cash proceeds to Energy Transfer of approximately C$340 million ($270 million), subject to certain purchase-price adjustments. The transaction is expected to close by the third quarter 2022.

Energy Transfer Canada, based in Calgary, is one of Alberta’s largest licensed gas processors. Its assets include six natural-gas processing plants that have a combined operating capacity of 1,290 million cubic feet per day and a network of approximately 848 miles of natural-gas gathering and transportation infrastructure in the Western Canadian Sedimentary Basin.

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