Pembina Pipeline Corporation (‘Pembina’ or the ‘Company’) has announced the results of voting at the special meetings of the Kinder Morgan Canada Limited (Kinder Morgan Canada) holders of restricted voting shares and special voting shares and the holders of preferred shares.
At meetings held on 10 December, Kinder Morgan Canada's holders of restricted voting shares and special voting shares, voting together as a single class, and holders of preferred shares, voting together as a single class, voted to approve the previously announced plan of arrangement (the ‘Arrangement’) pursuant to which Pembina will acquire Kinder Morgan Canada and its businesses through the acquisition of all of the issued and outstanding shares of Kinder Morgan Canada 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 US portion of the Cochin pipeline system by Kinder Morgan, Inc. to Pembina, and is expected to occur on or about 16 December 2019.
Read the article online at: https://www.worldpipelines.com/business-news/16122019/pembina-pipeline-corporation-provides-kinder-morgan-canada-update/