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Fort St. John
Tuesday, November 20, 2018
Tel: 250-787-7100
Email: contact@energeticcity.ca
9924 101 ave Fort St. John, B.C.
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Kinder Morgan Canada shares tick higher after deal to sell Trans Mountain

CALGARY, A.B. – Kinder Morgan Canada Ltd.’s shares traded higher after the federal government announced it would buy its controversial Trans Mountain pipeline for $4.5 billion.

The shares were up 47 cents or about three percent at $17.06 in early trading on the Toronto Stock Exchange after going as high as $18. The company’s stock had been halted prior to the announcement.

Ottawa is acquiring the existing Trans Mountain pipeline and the expansion project.

The company estimated the deal is worth about $12 per restricted voting share, after capital gains tax. It expects its approximately 30 percent share of after-tax proceeds to be approximately $1.25 billion.

Kinder Morgan Canada will continue to hold an integrated network of crude tank storage and rail terminals in Alberta. It will also own a terminal in Vancouver and the Cochin Pipeline system which transports light condensate from the United States to Fort Saskatchewan, Alta.

The company had ceased all non-essential spending on the project until it receives assurances it can proceed without delays, setting a May 31 deadline on getting those guarantees.

(THE CANADIAN PRESS)

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Local Events

Doc Walker to play the Lido Theatre

HYPNOTIST: RAY ANDERSON

Jokes N Tokes Comedy Tour

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