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AltaGas Ltd Increases Ownership In Petrogas Through Energy Export Joint Venture


Thursday, 24 Oct 2013 09:00am EDT 

AltaGas Ltd announced that it will increase its effective ownership of Petrogas Energy Corp to 33 1/3%. AltaGas plans to transfer its current 25% ownership to the AltaGas Idemitsu Joint Venture Limited Partnership. The Partnership will acquire an additional 41 2/3% interest in Petrogas. As a result of the transaction, Petrogas will be owned one-third by each of AltaGas, Idemitsu Kosan Co., Ltd, and its current shareholder. The acquisition is expected to close in first quarter 2014. TD Securities Inc acted as the exclusive financial advisor to the Partnership. 

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