Competition bureau approves Pembina’s Kinder Morgan purchase

Energy company Pembina Pipeline Corp said it has received approval from the Canadian Competition Bureau on Wednesday, to buy Kinder Morgan Canada Ltd.

The company told Reuters the approval satisfies the last regulatory condition necessary for the deal to close.

In August, Pembina Pipeline had agreed to buy Kinder Morgan Canada and the U.S. portion of the Cochin pipeline for $4.35 billion, bulking up its storage resources in Canada.

(Reuters)