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BRIEF-Pembina Pipeline to buy Veresen in $9.7 bln deal

May 1 Pembina Pipeline Corp:

* Pembina and Veresen to create leading north american energy infrastructure company

* Pembina Pipeline Corp - transaction is valued at approximately $9.7 billion including assumption of veresen's debt and preferred shares

* Pembina Pipeline Corp- transaction was unanimously approved by boards of directors of both companies

* Pembina Pipeline - offering to buy all outstanding veresen common shares in exchange for either 0.4287 of a common share of Pembina or $18.65 in cash

* Pembina Pipeline says upon completion of transaction, Pembina's common shareholders expected to own about 80 percent of combined company

* Pembina Pipeline- co, Veresen enter agreement to create energy infrastructure company with a pro-forma enterprise value of approximately $33 billion

* Expects transaction to be accretive to adjusted cash flow per share on a run-rate basis beginning in 2018

* Pembina Pipeline - assuming full pro-ration, each veresen shareholder would get $4.8494 in cash, 0.3172 share of pembina for each veresen common share

* Pembina Pipeline says upon completion of transaction, Veresen's shareholders are expected to own approximately 20 percent of combined company

* Pembina Pipeline - through 2018, combined company is expecting its low-risk, fee-for-service adjusted ebitda to increase to in excess of 85 percent

* Pembina Pipeline Corp - combined, Pembina and veresen will own approximately 5.8 bcf/d (net) of gas processing infrastructure across wcsb by 2018

* Pembina Pipeline Corp- pro-forma adjusted ebitda is expected to increase to $2.55 - $2.75 billion in 2018 for combined company

* Pembina Pipeline Corp - on a run-rate basis, before tax, synergies are expected to average $75 to $100 million annually for combined company

* Pembina Pipeline Corp - Pembina's senior executive team will be responsible for leading combined company with mick dilger as president and CEO

* Pembina says subject to successful completion of transaction, Pembina intends to increase its monthly common share dividend by 5.9 percent

* Pembina Pipeline Corp- cash consideration associated with transaction will be initially funded through company's $2.5 billion unsecured credit facility

* Pembina Pipeline Corp - three of current members of veresen board of directors will be appointed to pembina board of directors at closing of deal

* Pembina Pipeline Corp - don althoff, veresen's president and chief executive officer will continue to be involved in combined company

* Pembina Pipeline Corp - randy findlay will maintain his position as chair of board of Pembina Source text for Eikon: Further company coverage:

我们的标准: 汤森路透“信任原则

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