Deals
Plains All American Seeks to Buy Remainder of PAA Natural Gas
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Plains All American Pipeline LP, the oil transporter that has grown 45 percent in the last year, offered to buy the shares of PAA Natural Gas Storage LP it doesn’t already own in a deal that values the company at $1.97 billion.
Owners of PAA Natural Gas’s outstanding partnership units would receive .435 units of Plains All American, worth $22.74, the Houston-based companies said today in joint statements. Plains All American is the general partner of PAA Natural Gas and owns 46 percent of its limited-partner units.