Acquisition billion in gas distribution sector

Acquisition billion in gas distribution sector

World March 17, 2016 23:25

calgary - Canadian pipeline operator TransCanada will rival Columbia Pipeline on. The acquisition of the American company creates one of the largest network operators for gas in North America.

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.

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