IPPLF - Inter Pipeline to buy Milk River pipeline from Plains give up straddle plants

Inter Pipeline (IPPLF) agrees to acquire the Milk River pipeline system from Plains All American Pipeline (PAA) in exchange for its 100% ownership interest in the Empress II and 50% stake in the Empress V straddle plants plus $35M.The Milk River system includes two 16 km pipelines with current throughput volume of ~90K bbl/day and links Inter Pipeline's Bow River pipeline system from Alberta's Milk River to the U.S.-Canadian border.The two Plains-operated straddle plants are on the eastern leg of the TC Energy Alberta system.Inter Pipeline last week announced a deal to sell a significant part of its European bulk energy storage assets to Spain's CLH Group for $715M.

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Inter Pipeline to buy Milk River pipeline from Plains, give up straddle plants