Keyera Corp. has successfully finalized the acquisition of the Canadian natural gas liquids business of Plains All American Pipeline L.P. for $5.3 billion, including closing adjustments. This comes following a challenge by the federal competition regulator, the Competition Bureau, which has raised concerns about potential negative impacts on energy producers and investment.
The Competition Bureau has taken its concerns to the Competition Tribunal, focusing on the competition dynamics at Fort Saskatchewan, Alberta, a key natural gas liquids processing hub in Canada. Keyera has expressed disagreement with the regulator’s claims and plans to address them through the Competition Tribunal process.
Despite the regulatory challenge, Keyera remains optimistic about the benefits of the acquisition, stating that it will enhance competition in the region by establishing a more efficient Canadian competitor with improved connectivity and market access. The company is committed to defending the transaction and its positive impact on the market.
The Competition Bureau’s objections revolve around the perceived adverse effects on competition in the natural gas sector, specifically in Fort Saskatchewan. Emily Fitzpatrick reports on the potential implications of Keyera Corp.’s acquisition of Plains All American Pipeline and the ongoing regulatory scrutiny.
[Source](https://www.cbc.ca/news/canada/edmonton/keyera-completes-plains-acquisition-9.7196839)