Keyera Corp. has finalized the purchase of Plains All American Pipeline L.P.’s Canadian natural gas liquids business, standing by their completion of the transaction for $5.3 billion, inclusive of closing adjustments. The Competition Bureau has raised concerns about the deal’s potential negative effects on energy producers and investment, leading to their application to the Competition Tribunal to contest the acquisition.
The focal point of contention lies in competition at the primary natural gas liquids processing center in Fort Saskatchewan, Alberta, situated northeast of Edmonton. Keyera has expressed disagreement with the regulator’s claims and portrayal of the deal, vowing to address the issues through the Competition Tribunal procedure. The company remains steadfast in its belief that the acquisition will enhance competition within the region by establishing a more efficient Canadian competitor with increased connectivity and market access capabilities.