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AltaGas boosts global export strategy with increased interest in Petrogas

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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.

Company info

1700, 355 - 4th Avenue, S.W.
Calgary, AB
CA, T2P 0J1

Website:
altagas.ca

Phone number:
403-691-7576

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