AltaGas Completes Acquisition of Pacific Northern Gas

AltaGas Ltd. (TSX:ALA) announced it has concluded the process of acquiring all of Pacific Northern Gas’s shares.

As quoted in the press release:

The acquisition took place pursuant to a statutory plan of arrangement under the Business Corporations Act (British Columbia) following approval by over 99 percent of PNG common shareholders voting by person or represented by proxy at a special meeting held on December 12, 2011. T

AltaGas’s Chairman and CEO, David Cornhill said:

I am pleased to welcome PNG and its employees to AltaGas. This transaction will grow our Utility business to over 110,000 customers and increase rate base to over $500 million.

Click here for the AltaGas Ltd. (TSX:ALA) press release.