AltaGas/PNG deal approved by shareholders

The deal was approved by the British Columbia Utilities Commission on November 23, 2011 and the B.C. Supreme Court on December 13, 2011.

The total transaction is valued nearly $230 million, with $36.75 cash per share. It would include PNG's Northeast system, which consists of about 160 kilometres of transmission lines, 1,490 kilometres of distribution lines and a natural gas processing plant near Tumbler Ridge with a capacity of 120,000 cubic metres per day while serving over 18,000 customers in the region.

Completion of the deal is now pending federal regulatory approval.