On October 22, 2002, 845337 Ontario Inc., a subsidiary of Wichita, Kansas-based Koch Industries, Inc., disposed of its interest in Koch Pipelines Canada Ltd., the general partner of Koch Pipelines Canada, LP. The value of the deal is undisclosed. The new general partner, Pipeline Management Inc., is controlled by John Driscoll.
Inter Pipeline Fund, the renamed limited partnership, is a publicly-traded entity that owns and operates one of Canada’s largest crude oil pipeline feeder systems, with pipelines located in Alberta and Saskatchewan. The sale follows a secondary offering of limited partnership units by Koch Pipelines Canada Ltd. in April 2002, which raised gross proceeds of $245 million.
Pipeline Management was represented by Fraser Milner Casgrain LLP, with a team that included Bill Jenkins and Brian Carr (tax) and Jason Barabash and Kelly Holtby.
Osler, Hoskin & Harcourt LLP represented the Koch vendors, with a team that included Clay Horner, John Macfarlane, Colin Berryman and Andrea Whyte. Koch Industries was represented by in-house counsel Tye Darland.