CALGARY,
AB, Jan. 9, 2024 /CNW/ - Tidewater Midstream
and Infrastructure Ltd. ("Tidewater" or the "Corporation") (TSX:
TWM) has sold approximately 12.47 million common shares (the
"AltaGas Shares") of AltaGas Ltd. ("AltaGas") for proceeds of
approximately $340 million. The
AltaGas Shares were acquired as consideration for the previously
announced sale of the Corporation's Pipestone natural gas plant, Pipestone expansion project and Dimsdale
natural gas storage facility to AltaGas.
ABOUT TIDEWATER
MIDSTREAM
Tidewater is traded on the TSX under the symbol "TWM".
Tidewater's business objective is to profitably grow and create
shareholder value in the North American natural gas, natural gas
liquids, crude oil, refined product and renewable energy value
chain. Its operations include downstream facilities, natural gas
processing facilities, natural gas liquids infrastructure,
pipelines, storage, and various renewable initiatives. To
complement its infrastructure asset base, the Corporation also
markets crude, refined product, natural gas, natural gas liquids
and renewable products and services to customers across
North America.
Tidewater is a majority shareholder of Tidewater Renewables
Ltd., an energy transition company focusing on the production
of low carbon fuels. Tidewater Renewables Ltd.'s common shares are
publicly traded on the TSX under the symbol "LCFS".
SOURCE Tidewater Midstream and Infrastructure Ltd.
