OMERS Infrastructure to buy into BridgeTex pipeline for $1.4 bln
OMERS Infrastructure Management has agreed to acquire a 50 percent interest in BridgeTex Pipeline Co LLC, owner of the BridgeTex pipeline, a 400,000 barrel-per-day crude oil pipeline system located in Texas. OMERS will pay US$1.438 billion for the stake, which is being sold by Plains All American Pipeline and Magellan Midstream Partners. Plains and Magellan will retain 20 percent and 30 percent interests respectively, while Magellan will continue to operate the pipeline. The deal is expected to close in the fourth quarter. BridgeTex will be OMERS' third investment in U.S. energy infrastructure this year.
21 August 2018•3 mins read
