AltaGas joins Canada buying spree in US with USD 4.6 Billion deal

Calgary power and gas supplier AltaGas has agreed to buy WGL Holdings Inc. for USD 4.6 billion, joining the list of Canadian companies currently showing great interest in US energy assets.

Photo: Dong Energy, PR

Add AltaGas Ltd. to the list of Canadian companies that can not seem to get enough of America's energy assets.

The Calgary power and gas supplier agreed on Wednesday to buy WGL Holdings Inc. – owner of the Washington utility that supplies natural gas to the White House – for USD 4.6 billion. The takeover will expand its reach in the US, where it already owns power plants and two natural gas distributors. The company also plans to invest USD 1.8 billion in the Marcellus and Utica shale formations of the eastern US.

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