Published: March 20, 2024 |

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Pembina Pipeline Corporation has received a “no-action letter” from the Canadian Competition Bureau confirming that the Commissioner of Competition does not intend to challenge the proposed acquisition by Pembina of Enbridge’s interest in the Alliance, Aux Sable, and NRGreen joint ventures.

The receipt of the “no-action letter” satisfies the last material regulatory condition necessary for completion of the transaction, which is expected to occur on April 1, 2024.

In December of 2023, Enbridge entered into a definitive agreement to sell its 50 percent interest in Alliance Pipeline and its 42.7 percent interest in Aux Sable to Pembina Pipeline Corporation for a purchase price of $3.1 billion, including non-recourse debt at Alliance of approximately $0.3 billion, and subject to customary closing adjustments.

Pembina Pipeline Corporation is a leading energy transportation and midstream service provider that has served North America’s energy industry for more than 65 years. Pembina owns an integrated network of hydrocarbon liquids and natural gas pipelines, gas gathering and processing facilities, oil and natural gas liquids infrastructure and logistics services, and an export terminals business. Through its integrated value chain, they seek to provide safe and reliable energy solutions that connect producers and consumers across the world, support a more sustainable future and benefit customers, investors, employees and communities.

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