Competition Bureau continuing to review Pembina and Veresen merger
October 2, 2017 – OTTAWA, ON – Competition Bureau
The Competition Bureau continues to actively review competition concerns related to Pembina Pipeline Corporation’s acquisition of Veresen Inc. despite the parties’ announcement that the transaction closed today. The Bureau’s review is focused on the parties’ ethane transportation assets in Canada.
The Competition Act allows for a one-year period following the completion of a transaction during which the Commissioner may bring an application to the Competition Tribunal challenging the transaction.
Mergers in Canada are subject to review by the Competition Bureau to ensure they do not result in a substantial lessening or prevention of competition. If the Bureau determines that a merger is likely to substantially affect competition, it may apply to the Competition Tribunal for an order to, among other things, sell certain assets to remedy the harm to competition.
Should the Bureau conclude that the merger is likely to result in a substantial lessening or prevention of competition, the Bureau will take action where appropriate.
Pembina is a publicly-traded pipeline transportation and midstream service provider for North America’s energy industry. Pembina owns and operates an integrated system of pipelines that transport various hydrocarbon liquids in Western Canada and Northwestern USA.
Veresen is an energy infrastructure company that owns interests in pipeline and midstream assets in Western Canada and Northwestern USA.
Under the Competition Act, the Bureau has a mandate to review mergers to determine whether they are likely to result in a substantial lessening or prevention of competition.
As part of the Bureau’s normal approach in examining a merger, the Bureau consults with a wide range of industry participants, such as suppliers, competitors, industry associations, customers and industry experts, and considers many different factors, including definition of relevant markets, market concentration, effective remaining competitors and barriers to future entry or expansion by potential competitors. etc.
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