PEMBINA BUYS FEDERATED PIPE LINES LTD. FROM IMPERIAL, ANDERSON EXPLORATION

Abstract

Pembina Pipeline Income Fund's (TSE: PIF.UN) Pembina Pipeline Corp. subsidiary agreed to buy Federated Pipe Lines Ltd. from Imperial Oil Ltd. (AMEX: IMO) and Anderson Exploration Ltd.'s (TSE: AXL) Home Oil Co. Ltd. in a cash deal. Pembina also agreed to purchase the Cynthia pipeline from Imperial in a related transaction. The Calgary income trust will pay C$349 million in the two deals, including the assumption of some C$120 million of Federated's debt. Scotia Capital Inc. advised Pembina in the deal. The companies expect to close the transaction on July 31.