WEC Energy Group, Inc. entered into a definitive agreements to acquire Bluewater Gas Holding LLC from Plains All American Pipeline, L.P. for $230 million.

WEC Energy Group, Inc. (NYSE:WEC) entered into a definitive agreements to acquire Bluewater Gas Holding LLC from Plains All American Pipeline, L.P. (NYSE:PAA) for $230 million on January 20, 2017. In a related transaction Valero Partners Wynnewood LLC acquired 40% interest in Hewitt segment of Red River Pipeline from Plains All American Pipeline, L.P. for approximately $70 million on January 18, 2017. The transaction is subject to customary closing conditions, including receipt of regulatory approvals.

As of June 15, 2017, the Public Service Commission of Wisconsin approved the transaction and is expected to close during the first half of 2017. Barclays Capital PLC acted as financial advisor to WEC Energy Group, Inc. (NYSE:WEC). JPMorgan Chase & Co.

(NYSE:JPM) acted as financial advisor for Plains All American Pipeline.