KKR-backed SemCAMS closes $600 mln buy of Meritage assets

SemCAMS Midstream ULC has closed its acquisition of Meritage Midstream ULC's midstream infrastructure assets in the Alberta Montney resource play. The deal, announced in January, reflects a purchase price of $600 million. The seller was U.S. energy private equity firm Riverstone Holdings. SemCams, a Calgary-based midstream infrastructure platform operating in Western Canada, is co-owned by SemGroup Corp (NYSE: SEMG) and U.S. private equity firm KKR. The $1.75-billion platform was created in part by Tulsa, Oklahoma-based SemGroup's contribution of the shares and assets of its Canadian unit.

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