CALGARY, AB – AltaGas Ltd. (“AltaGas or the Company”) (TSX: ALA) is pleased to announce that it has closed the previously announced acquisition of an additional 37 percent equity interest in Petrogas Energy Corp. (“Petrogas”) for total consideration of approximately $715 million. AltaGas’ indirect ownership in Petrogas increases to approximately 74% with Idemitsu Kosan Co., Ltd. (“Idemitsu”) indirectly owning the remaining approximate 26%. The transaction is expected to be immediately accretive to earnings and cash flow per share and is expected to be accretive to AltaGas’ credit metrics on a run-rate basis.
About AltaGas
AltaGas is a leading North American energy infrastructure company that connects NGLs and natural gas to domestic and global markets. The company operates a diversified, low-risk, high-growth Utilities and Midstream business that is focused on delivering resilient and durable value for its stakeholders. For more information visit www.altagas.ca or reach out to:
Jon Morrison
Senior Vice President, Investor Relations & Corporate Development
403.691.7575
jon.morrison@altagas.ca
Adam McKnight
Director, Investor Relations
403.691.7575
Adam.McKnight@altagas.ca
Investor Inquiries:
1-877-691-7199
investor.relations@altagas.ca
Media Inquiries:
1-403-206-2841
media.relations@altagas.ca