AltaGas Ltd. and WGL Holdings, Inc. Settlement Agreement Kickstarts Natural Gas Expansion in Maryland
WGL HOLDINGS (WGL)
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Source: Marketwire
BALTIMORE, MARYLAND -- (Marketwired) -- 12/04/17 -- AltaGas Ltd. (AltaGas) (TSX:ALA) and WGL Holdings, Inc. (NYSE:WGL) (WGL) announced today the achievement of a significant milestone in the regulatory approval process in Maryland, with the signing of a settlement agreement with the Maryland Energy Administration (MEA), Montgomery County, Prince George's County, and the Laborers' International Union of North America, its affiliated District Council, and Local Unions serving or located in Washington D.C. (collectively, LiUNA) on key terms for the merger of AltaGas and WGL currently before the Maryland Public Service Commission (PSC). The settlement is subject to review and approval by the PSC. AltaGas continues to anticipate closing the transaction in the first half of 2018. Under the terms of the settlement agreement, AltaGas and WGL have committed $103 million to expand natural gas infrastructure in Maryland. Washington Gas will invest $70 million of this amount over a
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