Enbridge sells secondary assets to CPPIB, ArcLight for $3.2 bln: Reuters
Canadian pipeline operator Enbridge Inc will sell a U.S. gas pipelines business and part of its renewable energy assets for a total of about $3.2 billion (US$2.5 billion) as it seeks to shed secondary assets and reduce its massive debt load, Reuters reported. Enbridge said it had sealed a $1.75 billion agreement with Canada Pension Plan Investment Board to sell a 49 percent stake in wind and solar power assets in North America and Germany. It will also sell Midcoast Operating LP, its U.S. gas pipelines unit, to an affiliate of U.S. private equity firm ArcLight Capital Partners for US$1.12 billion.
9 May 2018•3 mins read
