Canadian Manufacturing

Enbridge shuffles assets in transfer valued at $30.4B

Enbridge Income Fund Holdings Inc. will assume about $11.7 billion of debt as part of the transaction.

June 19, 2015  by The Canadian Press

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.

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