On December 1, 2008, Spectra Energy completed the previously announced sale of Spectra Energy Midstream's Nevis and Brazeau River natural gas gathering and processing facilities located in West Central Alberta. The facilities were sold to a wholly owned subsidiary of Keyera Facilities Income Fund for a purchase price of approximately $129 million before closing adjustments. Pursuant to this transaction, Keyera acquired an additional 40 per cent interest in the Keyera Brazeau River gas plant, bringing Keyera's ownership in this facility to 91.6 per cent, and a 100 per cent interest in the Nevis gas plant. Keyera also acquired extensive gathering pipeline systems, compression and other facilities at both plants.
Keyera was represented in-house by Ian MacLean, general counsel, and Warren Wismer, and by Mark Smith and Paula Olexiuk (energy) and Peter Glossop and Kevin Glass (competition) of Osler, Hoskin & Harcourt LLP.
Spectra was represented by Anders Torning, associate general counsel (M&A), who was assisted by a team at McCarthy Tétrault LLP that included John Osler, Rob Depoe, Paulina Tam (business law), Greg Liakopoulos (real property) and Lorne Salzman (competition law).