Our announcement today is very positive for shareholders. It provides clarity around the success we ve had in creating what we call more like an infrastructure-based contracting model for the plant, Inter CEO Christian Bayle said in an interview.
The contracts are with a mixture of North American polypropylene consumers as well as Canadian and multinational producers who will pay to have their propane transformed into polypropylene at the plant and then share in the profit when that product goes to market, he said.
When Brookfield made its takeover offer in February of $16.50 per share in cash or 0.206 of a Brookfield Infrastructure Corp. class-A exchangeable share (a deal that values Inter at $7.1 billion), it said it would consider increasing the bid if Inter can substantiate growth and commercialization plans for the $4-billion Heartland project.
Inter Pipeline reports 60% of Heartland plant is contracted
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Hostile takeover target Inter Pipeline reports 60% of Heartland plant is contracted
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