Acquisition billion in gas distribution sector

Canadian pipeline operator TransCanada will rival Columbia Pipeline on.

Shareholders of Columbia will receive $ 25.50 per share, which the company is valued at about 13 billion dollars. That includes taking over a debt of $ 2.8 billion.

TransCanada sees in Columbia gas pipeline network a valuable addition to its own network. Together, the companies have approximately 91 000 kilometers of pipelines.

Canadian regulators have taken a decision yet on the deal. The aim is to complete the acquisition in the second half of this year.