ALA.PR.U AltaGas Ltd

AltaGas Ltd. ("AltaGas") (TSX:ALA)(TSX:ALA.PR.A)(TSX:ALA.PR.U) announced today
that it has successfully completed the acquisition of a 25 percent interest in
Petrogas Energy Corp. ("Petrogas"), a privately held leading North American
integrated midstream company, for approximately 2.8 million shares of AltaGas
priced at $35.69, the 20-day volume weighted average price, and cash (the
"Acquisition"). The Acquisition is expected to be meaningfully accretive to
earnings and cash flow per share. 


"This Acquisition provides excellent opportunities to work together to enhance
value across our midstream businesses," said David Cornhill, Chairman and CEO of
AltaGas. "Together, our expertise, assets and geographic reach allow us to
provide a range of energy solutions to our customers, and also position us well
to pursue energy export initiatives to drive future growth."


AltaGas has retained a conditional option to purchase directly or indirectly up
to an additional 25 percent interest in Petrogas in 2013. AltaGas will continue
to maintain its strong balance sheet and financial discipline and its commitment
to maintaining an investment grade credit rating.


About AltaGas Ltd. 

AltaGas is an energy infrastructure business with a focus on natural gas, power
and regulated utilities. AltaGas creates value by acquiring, growing and
optimizing its energy infrastructure, including a focus on clean energy sources.
For more information visit: www.altagas.ca.


This news release contains forward-looking statements. When used in this news
release, the words "may", "would", "could", "will", "intend", "plan",
"anticipate", "believe", "seek", "propose", "estimate", "expect", and similar
expressions, as they relate to AltaGas or an affiliate of AltaGas, are intended
to identify forward-looking statements. In particular, this news release
contains forward-looking statements with respect to, among other things, the
anticipated impact of the Acquisition on earnings and cash flow per share,
business objectives, expected growth, results of operations, performance,
business projects and opportunities and financial results. These statements
involve known and unknown risks, uncertainties and other factors that may cause
actual results or events to differ materially from those anticipated in such
forward-looking statements. Such statements reflect AltaGas' current views with
respect to future events based on certain material factors and assumptions and
are subject to certain risks and uncertainties, including without limitation,
changes in market, competition, governmental or regulatory developments, general
economic conditions and other factors set out in AltaGas' public disclosure
documents. Many factors could cause AltaGas' actual results, performance or
achievements to vary from those described in this news release, including
without limitation those listed above. These factors should not be construed as
exhaustive. Should one or more of these risks or uncertainties materialize, or
should assumptions underlying forward-looking statements prove incorrect, actual
results may vary materially from those described in this news release as
intended, planned, anticipated, believed, sought, proposed, estimated or
expected, and such forward-looking statements included in, or incorporated by
reference in this news release, should not be unduly relied upon. Such
statements speak only as of the date of this news release. AltaGas does not
intend, and does not assume any obligation, to update these forward-looking
statements. The forward-looking statements contained in this news release are
expressly qualified by this cautionary statement.


FOR FURTHER INFORMATION PLEASE CONTACT: 
AltaGas Ltd.
Investment Community
1-877-691-7199
investor.relations@altagas.ca


AltaGas Ltd.
Media
(403) 691-9873
media.relations@altagas.ca
www.altagas.ca

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