Pembina Pipeline to acquire Provident Energy in $3.15 billion deal

01/16/2012 | Wall Street Journal, The

Canada-based Pembina Pipeline will spend $3.15 billion to buy Provident Energy, which processes and markets natural gas liquids such as propane, ethane and butane. The acquisition will complement Pembina's crude oil and natural gas business, which means that the company "will be able to provide a much greater level of service" to its customers, said Pembina President and CEO Robert Michaleski.

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Wall Street Journal, The