Canadian Regulator Moves to Block Keyera-Plains Merger

Canada’s Competition Bureau has filed an application seeking to block Keyera Corp.’s proposed acquisition of Plains Midstream Canada, citing competition concerns tied to fractionation and storage assets.

(P&GJ) — Canada’s Commissioner of Competition has filed an application with the Competition Tribunal seeking to block Keyera Corp.’s proposed acquisition of Plains Midstream Canada ULC.

The filing challenges Keyera’s planned purchase of Plains Midstream Canada from Plains Midstream Luxembourg and raises concerns about competition impacts tied to midstream infrastructure assets.

According to the application, the Commissioner is requesting an order preventing the companies from proceeding with the transaction. Alternatively, the filing seeks to block Keyera from acquiring Plains Midstream Canada’s fractionation and storage business at Fort Saskatchewan, Alberta, along with related infrastructure assets.

The Commissioner also requested that the involved companies cover costs associated with the proceeding and noted additional remedies could be sought through the Tribunal process.

The Competition Tribunal said motions seeking leave to intervene in the case must be filed by June 29.

The proposed transaction centers on key Canadian midstream assets tied to natural gas liquids fractionation and storage infrastructure in Alberta.