AltaGas to buy into PE-backed Black Swan's gas processing plants
Calgary-based energy infrastructure company AltaGas Ltd (TSX: ALA) has agreed to acquire a 50 percent stake in the existing and future Aitken Creek natural gas processing plants of Black Swan Energy Ltd. In a separate release, AltaGas said its investment in the acquisition and new infrastructure is estimated at about $230 million. With the deal's close, the companies will enter into an agreement for the use by Black Swan of the AltaGas processing capacity, as well as transportation and marketing agreements. Black Swan, a Calgary-based energy explorer and producer, is backed by Azimuth Capital Management, Canada Pension Plan Investment Board and Warburg Pincus.
27 September 2018•4 mins read
