Brookfield Infrastructure completes acquisition of Inter Pipeline; IPL to be delisted

CALGARY — Brookfield Infrastructure Partners L.P. says it has completed the acquisition of Inter Pipeline Ltd.

The transaction was approved near unanimously by Inter Pipeline shareholders and received final approval from an Alberta court.

Shareholders other than Brookfield Infrastructure had until Tuesday afternoon to receive $20 in cash, one-quarter of a Brookfield share or a combination of the two.

Cash was the selection option for holders of 68.7 million Inter Pipeline shares while Brookfield shares were chosen by the holders of 32.4 million shares.

Inter Pipeline shares are expected to be delisted from the Toronto Stock Exchange at the end of Monday trading.

Brian Baker was appointed interim CEO following the resignation of Christian Bayle.

This report by The Canadian Press was first published Oct. 28, 2021.

Companies in this story: (TSX:IPL, TSX:BIPC)

The Canadian Press

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