Canada to buy Trans Mountain Pipeline for C$4.5 billionStaff Writer | May 29, 2018
Kinder Morgan announced that the Kinder Morgan Canada (KML) board has agreed to the purchase of the Trans Mountain Pipeline system and the expansion project (TMEP) by the Government of Canada for C$4.5 billion.
Acquisition Canada will fund the resumption of TMEP
As part of the agreement, the government has agreed to fund the resumption of TMEP planning and construction work by guaranteeing TMEP’s advances under a separate Federal Government recourse credit facility until the transaction closes.
The parties expect to close the transaction late in the third quarter or early in the fourth quarter of 2018, subject to KML shareholder and applicable regulatory approvals. ■