HOUSTON – Bracewell LLP is serving as U.S. counsel to Pembina Pipeline Corporation in its acquisition of Veresen Inc. in a combined cash and stock transaction valued at approximately CAD $9.7 billion. The transaction will create one of the largest energy infrastructure companies in Canada with a pro-forma enterprise value of approximately CAD $33 billion.
The combined company will feature a diversified portfolio of crude oil, liquids and natural gas pipelines, terminal, storage and midstream operations, gas gathering and processing facilities as well as fractionation facilities.
The deal is subject to approval of Veresen's common shareholders, approval of the Court of Queen's Bench and certain regulatory approvals in Canada and the United States, among other customary closing conditions, and is expected to close late in the third quarter or early in the fourth quarter of 2017.
Bracewell lawyers involved in this transaction include:
Partners: Mark K. Lewis, Troy L. Harder, Daniel E. Hemli, Elizabeth L. McGinley and Scott C. Sanders
Counsel: Jacqueline R. Java
Associate: W. Jared Berg