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AltaGas to sell non-core gas assets


Published Feb 4, 2016
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AltaGas Ltd.-3

AltaGas Ltd. says that its wholly owned subsidiaries, AltaGas Processing Partnership and AltaGas Holdings Inc., have entered into an agreement with Tidewater Midstream and Infrastructure Ltd. to sell AltaGas Northcentral Processing Limited Partnership, a limited partnership containing certain non-core natural gas gathering and processing assets.

Total consideration to be received by AltaGas is $30 million cash and 43.7 million common shares of Tidewater. The assets being sold to Tidewater pursuant to the Tidewater Disposition are located primarily in central and north-central Alberta, total approximately 490 Mmcf/d of gross licensed natural gas processing capacity, and represent less than two percent of AltaGas' EBITDA for 2016.

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