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Company News

Pembina to buy Kinder Morgan Canada, part of Cochin pipeline for C$4.35 bln

Aug 21 (Reuters) - Pembina Pipeline Corp said on Wednesday it would buy Kinder Morgan Canada and the U.S. part of the Cochin Pipeline system for C$4.35 billion ($3.27 billion).

The all-stock deal values Kinder Morgan Canada at about C$15.02 per share, representing a premium of 36.8% to stock’s Tuesday close. ($1 = 1.3293 Canadian dollars) (Reporting by Shanti S Nair in Bengaluru; Editing by Shinjini Ganguli)

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