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AltaGas Ltd Closes Acquisition Of 25% Interest In Petrogas Energy Corp

Tuesday, 1 Oct 2013 01:51pm EDT 

AltaGas Ltd announced that it has completed the acquisition of a 25% interest in Petrogas Energy Corp. (Petrogas), a privately held North American integrated midstream company, for approximately 2.8 million shares of AltaGas priced at $35.69, the 20-day volume weighted average price, and cash (the Acquisition). The Acquisition is expected to be meaningfully accretive to earnings and cash flow per share. AltaGas has retained a conditional option to purchase directly or indirectly up to an additional 25% interest in Petrogas in 2013. AltaGas will continue to maintain its balance sheet and financial discipline and its commitment to maintaining an investment grade credit rating. 

Company Quote

1.12 +2.65%
23 Jan 2015