PSP Investments, ATRF receive commission approval for AltaGas Canada acquisition

AltaGas Canada Inc. (ACI), Public Sector Pension Investment Board (PSP Investments) and the Alberta Teachers' Retirement Fund Board (ATRF) have received the approval from the Alberta Utilities Commission and the British Columbia Utilities Commission with respect to the previously announced arrangement of ACI, whereby all of the issued and outstanding common shares of ACI will be acquired for CAD33.50 (US$23.7) in cash per common share.

With all required shareholder, court and regulatory approvals having now been obtained, the arrangement is expected to be completed on or about March 31, 2020, although the transaction remains subject to customary closing conditions that cannot be satisfied until completion.