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.
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:
Senior Vice President, Investor Relations & Corporate Development
Director, Investor Relations