DivestmentMay 5, 2026, 04:42 PM
Plains All American to Close Canadian NGL Divestment in May Despite Challenge
AI Summary
Plains All American Pipeline provided an update on the divestiture of its Canadian NGL business to Keyera Corp. The company received a challenge from the Canadian Competition Bureau regarding the proposed transaction. Despite the challenge, which does not prohibit the closing, Plains and Keyera intend to complete the transaction in May 2026, transforming Plains into a pure play crude oil midstream company.
Key Highlights
- Plains All American Pipeline provided an update on the divestiture of its Canadian NGL business to Keyera Corp.
- The Canadian Competition Bureau filed a challenge against the proposed transaction.
- The filing and associated proceeding do not prohibit or prevent the transaction from closing.
- Plains and Keyera Corp intend to close the transaction in May 2026.
- Completion of the divestiture will transform Plains into a pure play crude oil midstream company.