CALGARY, Dec. 1 /CNW/ - Keyera Facilities Income Fund ("Keyera")
(TSX:KEY.UN; KEY.DB; KEY.DB.A) announced today that it has closed its recently
announced acquisition of gas gathering and processing facilities in West
Central Alberta. This included the acquisition of an additional 40% interest
in the Keyera Brazeau River gas plant, bringing Keyera's ownership in this
facility to 91.6%, and a 100% interest in the Nevis gas plant. Keyera also
acquired extensive gathering pipeline systems, compression and other
facilities at both plants. Cost of the transaction was approximately $129
million before closing adjustments.
On November 17, 2008, Keyera also closed its recently announced
acquisition of an additional 10.5% interest in the Rimbey gas plant, bringing
Keyera's ownership in this facility to 96.9%. The cost of this transaction was
approximately $22 million before closing adjustments.
This document contains forward-looking statements that involve known and
unknown risks and uncertainties, many of which are beyond Keyera's control.
The forward-looking statements are based on management's current expectations
and assumptions relating to Keyera's business and the environment in which it
operates. As the results or events predicted or implied in these
forward-looking statements depend upon future events, actual results or events
may differ materially from those predicted. Some of the factors which could
cause actual results or events to differ materially include the ability of
Keyera to successfully implement strategic initiatives, whether such
initiatives yield the expected benefits, operating and other costs, future
operating results and the components of those results, fluctuations in the
demand for natural gas, NGLs, crude oil and bitumen, changes in commodity
prices, the activities of producers, competitors and others, the weather,
overall economic conditions, proposed or actual legislative changes, including
any further announcements by the federal government with respect to the tax
treatment of income trusts and other known or unknown factors. There can be no
assurance that the results or developments anticipated by Keyera will be
realized or that they will have the expected consequences for or effects on
Keyera.
For additional information on these and other factors, see Keyera's
public filings on www.sedar.com. Unless otherwise required by applicable laws,
Keyera does not intend to publicly update or revise forward-looking
statements, whether as a result of new information, future events or
otherwise.
%SEDAR: 00019203E
