AltaGas boosts global export strategy with increased interest in Petrogas
AltaGas Ltd. has closed the previously announced acquisition of an additional 37 percent equity interest in Petrogas Energy Corp. for total consideration of approximately $715 million.
AltaGas' indirect ownership in Petrogas increases to approximately 74% with Idemitsu Kosan Co., Ltd. ("Idemitsu") indirectly owning the remaining approximate 26%. The transaction is expected to be immediately accretive to earnings and cash flow per share and is expected to be accretive to AltaGas' credit metrics on a run-rate basis.
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