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Construction of Inter Pipeline’s Polaris Pipeline.
Construction of Inter Pipeline’s Polaris Pipeline.
(Inter Pipeline Fund)

Inter Pipeline Fund looks to chop fees, convert to corporation

Inter Pipeline Fund, a major transporter of Western Canadian oil, is looking to scrap rising management fees and attract a broader investor base with a $340-million conversion into a tried-and-true corporation that’s reminiscent of many moves during and after the income trust era.

The company, a publicly traded limited partnership that runs pipelines and a European bulk storage unit, said it will buy out the general partner that operates its businesses for $170-million, and fork over the same amount again when a pair of big oil sands pipeline expansion projects come to fruition.