Keyera Deal for Certain Plains NGL Assets Widens Reach, CEO Says
Keyera's KEY 5.70%increase; green up pointing triangle deal for Plains All American Pipeline's PAA 3.78%increase; green up pointing triangle natural gas liquids business in Canada will bolster the energy-infrastructure company's scale and widen its reach into Eastern Canada, while bringing flexibility in market access and driving growth, according to Keyera Chief Executive Dean Setoguchi.
The 5.15 billion Canadian dollars (US$3.76 billion) deal also repatriates important energy assets in the country and means cash flows from the acquired operations are reinvested in Canada, Setoguchi said.
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