Plains All American Updates NGL Divestiture Timeline to May
Plains All American (PAA) and Plains GP Holdings (PAGP) provided an update on the expected timing for completion of the Canadian NGL business divestiture to Keyera Corp. The transaction continues to advance through the regulatory process, including review by the Competition Bureau. Based on the current status of this process, we now expect closing in May. Plains and Keyera continue to work constructively through the regulatory process and are confident in the completion of the transaction. Both companies are also advancing integration planning activities to support a smooth transition upon closing. Completion of the NGL divestiture will transform Plains to a pure play crude oil midstream company with integrated assets spanning from Canada to the U.S. Gulf Coast.
