Pembina Receives Regulatory Approval to Acquire Enbridge's Interest in Joint Ventures

(Reuters) — Pembina Pipeline said on Tuesday the Canadian Competition Bureau has approved its proposed C$3.1 billion ($2.28 billion) acquisition of Enbridge's interests in the Alliance, Aux Sable, and NRGreen joint ventures.

The deal is expected to close on April 1, Pembina said.

Alliance delivers liquids-rich natural gas sourced in Northeast B.C., Northwest Alberta and the Bakken region to Chicago.

Aux Sable operates natural gas liquids (NGL) extraction and fractionation facilities in both Canada and the U.S., with extraction rights on Alliance, offering connectivity to key U.S. NGL hubs.

Enbridge announced the deal in December to reduce its debt following its $14 billion offer for three of Dominion Energy's natural gas distribution companies in September.

($1 = 1.3568 Canadian dollars)

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