Enbridge shuffles assets in transfer valued at $30.4B
by The Canadian Press
Enbridge Income Fund Holdings Inc. will assume about $11.7 billion of debt as part of the transaction.
CALGARY—Enbridge Inc. will transfer ownership of its Canadian liquids pipeline business to the affiliated Enbridge Income Fund in a transaction valued at $30.4 billion.
Enbridge Income Fund Holdings Inc. will assume about $11.7 billion of debt as part of the transaction.
ENF also expects to issue $18.7 billion of equity to Enbridge Inc., giving the Calgary-based pipeline company a 90 per cent interest in the fund upon closing.
ENF’s website says the fund’s assets include interests in more than 500 megawatts of renewable and alternative power generation capacity, a portfolio of liquids transportation and storage businesses—including equity interest in the Southern Lights Pipeline—and a 50 per cent interest in the Alliance Pipeline.
