Pembina Pipeline Corp. to acquire KML, Cochin Pipeline

Pembina Pipeline Corp. has entered into agreements pursuant to which it will acquire Kinder Morgan Canada Ltd. (KML) and the U.S. portion of the Cochin Pipeline system (Cochin US) from Kinder Morgan Inc. (KMI) for a total purchase price of approximately $4.35 billion. The transaction values Kinder Morgan Canada at approximately $2.3 billion, or $15.02 per share, based on an all-share exchange ratio of 0.3068 of a common share of Pembina per KML security and Pembina’s 30-day volume weighted average price on the date hereof. It values Cochin US at approximately $2.05 billion for cash consideration.

Through the transaction, Pembina will acquire strategically located assets including the Cochin Pipeline System, the Edmonton storage and terminal business, and Vancouver Wharves, a bulk storage and export/import business. Upon closing, the transaction immediately provides Pembina with well-established business platforms and substantial opportunities for growth.

For more information, visit www.pembina.com or call (888) 428-3222.

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