Canada's Keyera buys remaining 50% stake in KAPS pipeline for $861 million
Canada's Keyera Corporation said on Wednesday it has acquired the remaining 50% stake in the KAPS natural gas liquids pipeline from Stonepeak for C$1.215-billion ($860.97-million), taking full ownership of the system.
The company expects about C$100-million in incremental growth capital in 2026, above its previously disclosed outlook of C$550-million to C$625-million, to fund its increased share of remaining construction costs for the Zone 4 expansion.
The deal was financed through existing credit facilities, with Keyera planning to raise C$525-million in equity through a bought deal offering, while continuing construction of the KAPS Zone 4 expansion, which is expected to start operations in mid-2027.
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