Altagas Completes Acquisition Of Common Shares Of Pacific Northern Gas

AltaGas Ltd. completed the acquisition of all of the issued and outstanding common shares of Pacific Northern Gas Ltd. pursuant to a statutory plan of arrangement under the Business Corporations Act (British Columbia). AltaGas Utility Holdings (Pacific) Inc., an indirect wholly owned subsidiary of AltaGas, acquired all of the common shares of Pacific Northern Gas for aggregate cash consideration of $139,139,322 being $36.75 per common share.

As part of the transaction, BMO Capital Markets Inc. acted as financial advisors to Pacific Northern Gas and Scotia Waterous Inc. acted as financial advisors to AltaGas.

AltaGas was represented in-house by Dennis Dawson, Vice President, General Counsel and Corporate Secretary, Michael Halpen, Associate General Counsel and Shaheen Amirali, Senior Corporate Counsel and by a team from Stikeman Elliott LLP that included Christopher Nixon, Keith Chatwin and Kelly Fluker (securities); Susan Hutton (competition); Jonathon Drance, Luigi Cusano and David Wood (regulatory); Paula Price (litigation) and David Weekes (tax).

Pacific Northern Gas was represented by Albert Hudec, Trevor Scott, Denise Nawata and Peter Roth (securities); David Selley (competition); Rebecca Morse (litigation) and Sandy Sheinin and Mark Chu (tax) of Farris, Vaughan, Wills & Murphy LLP. Craig Donohue, Director Regulatory Affairs and Gas Supply for Pacific Northern Gas, led the regulatory matters involving the British Columbia Utilities Commission.