Plains All American Pipeline has agreed to buy Westcoast Energy’s Canadian NGLs business for $150 million. The transaction includes an NGL extraction and fractionation facility, a pipeline, seven NGL terminals and two NGL storage facilities in western Canada. The transaction is expected to close in the second quarter of 2016. Westcoast Energy is a unit of Spectra Energy.
Plains also said it sold $250 million in non-core assets in two transactions that were completed March 31. Five more transactions totaling $250 million will be completed in the second quarter of 2016.
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