Keyera Completes $5.3B Plains Acquisition

The Competition Bureau challenged the deal.

Keyera Corp. finished buying Plains All American Pipeline L.P.'s Canadian natural gas liquids business despite the challenge. Keyera Corp. finished the deal. The deal was for the Canadian business. The company bought the business. The challenge was from the federal competition regulator.

Keyera completed the acquisition for $5.3 billion. The acquisition was completed on Tuesday.

The Competition Bureau challenged the deal, saying it will harm energy producers.

The main issue is competition at a natural gas liquids hub. The hub is in Fort Saskatchewan, Alta.

Keyera disagrees with the regulator's assertions. Keyera will respond through the Competition Tribunal process.

Keyera believes the deal strengthens competition. The deal creates a more efficient competitor. The competitor has expanded connectivity and market access.

The Competition Bureau challenged the merger.

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