“Keyera Corp. Defends $5.3B Acquisition Against Competition Bureau Challenge”

Keyera Corp. successfully finalized the acquisition of Plains All American Pipeline L.P.’s Canadian natural gas liquids business, with the transaction valued at $5.3 billion, including adjustments at closing. Despite opposition from the Competition Bureau, which has raised concerns about potential negative impacts on energy producers and investment in the sector, Keyera remains confident in the deal’s benefits. The Competition Bureau’s challenge is centered around competition at the Fort Saskatchewan natural gas liquids processing hub in Alberta. Keyera has stated its disagreement with the regulator’s claims and plans to address the concerns through the Competition Tribunal process. The company believes that the acquisition will enhance competition in the region by establishing a more efficient Canadian competitor with improved connectivity and market access.