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Monday, September 22, 2014

Veresen buys stake in Ruby pipeline for $1.43 bln, (TSE: VSN.TO)

Veresen Inc said it would purchase Global Infrastructure Partners's 50 percent convertible preferred interest in Ruby pipeline system for $1.43 billion. The company, which operates pipelines and gas-processing facilities, said the pipeline has a capacity of about 1.5 billion cubic feet per day (bcf/d), with a potential to expand to 2 bcf/d.

Veresen Inc. is a Canadian corporation, which manages its pipeline transportation, midstream services, and power generation businesses. Shares of VSN fell by 1.49% or $-0.26/share to $17.17. In the past year, the shares have traded as low as $11.80 and as high as $19.80. On average, 441136 shares of VSN.TO exchange hands on a given day and today's volume is recorded at 607241.