CPPIB-backed Wolf closes $1.61 bln buy of MEG energy assets

Calgary-based energy infrastructure company Wolf Midstream Inc has closed its acquisition of MEG Energy Corp's 50 percent interest in Access Pipeline and 100 percent interest in the Stonefell Terminal. The deal, announced in February, reflected a value of $1.61 billion. Canada Pension Plan Investment Board, which has partnered with Wolf since 2015, invested $703 million. As a result of the deal, Wolf gained full ownership of Access, operator of a heavy oil transportation pipeline network servicing facilities in Alberta. Two years ago, the company acquired a 50 percent stake in Access from Devon Energy Corp for $1.4 billion.

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