Pembina Pipeline Closes Acquisition Of Enbridge's Interest In Alliance/Aux Sable
(RTTNews) - Pembina Pipeline Corp. (PBA, PPL.TO) announced Monday that it has completed its previously announced acquisition of Enbridge Inc.'s (ENB, ENB.TO)interest in the Alliance, Aux Sable, and NRGreen joint ventures. Pembina Pipeline increased its ownership in Alliance and Aux Sable.
The approximately $3.1 billion purchase price for the transaction was funded, in part, from the net proceeds of Pembina's $1.28 billion bought deal offering of subscription receipts, which closed on December 19, 2023.
On March 28, 2024, Pembina made a cash payment per Subscription Receipt, to holders of Subscription Receipts of record as of March 15, 2024, of $0.6675.
In conjunction with closing, Pembina has updated its 2024 adjusted EBITDA guidance range to $4.05 billion to $4.30 billion, up from the prior guidance range of $3.725 billion to $4.025 billion.
The revised outlook primarily reflects the incremental contribution from increased ownership of Alliance and Aux Sable, as well as a stronger outlook in the marketing business.
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