Brookfield Infrastructure completes Inter Pipeline buyout

Image copyright Getty Images Image caption Brookfield Infrastructure has a wide range of assets and is one of Canada’s biggest companies Brookfield Infrastructure has completed its acquisition of Inter Pipeline for C$9.6bn ($7.4bn, £6.1bn)….

Brookfield Infrastructure completes Inter Pipeline buyout

Image copyright Getty Images Image caption Brookfield Infrastructure has a wide range of assets and is one of Canada’s biggest companies

Brookfield Infrastructure has completed its acquisition of Inter Pipeline for C$9.6bn ($7.4bn, £6.1bn).

It will also take on Inter Pipeline’s debt of $2.8bn.

It will own and operate pipelines in Canada and Mexico, and its investment in Onne Petroleum in Australia is also changing hands.

Brookfield Infrastructure already has some assets in Australia.

Prem Watsa’s Fairfax, one of the company’s biggest shareholders, has pushed for the deal to go ahead and earlier this week issued a statement saying it was “a powerful combination”.

It added: “Australia is a large and strategically important country for us, and the consolidation of the energy infrastructure businesses in Australia will create the foundation of the largest toll road operator in Australia and one of the leading toll roads operators in North and South America.”

Inter Pipeline’s key assets are three gas pipelines that connect to export terminals along the coast of British Columbia.

Another key project is the 53km (33-mile) gas pipeline it owns from Woodside’s offshore gas fields to Indonesia’s shores.

Brookfield Infrastructure has already been behind similar deals to acquire Transcanada’s stake in the Dakota Access Pipeline.

Another deal it has recently completed saw it take a stake in a North American toll road company and manage other roads.

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