08:44:41 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 1,695,000,042
Close 2018-02-16 C$ 42.95
Market Cap C$ 72,800,251,804
Recent Sedar Documents

Globe says Enbridge set to shed $3B in assets in 2018

2018-02-20 07:12 ET - In the News

The Globe and Mail reports in its Saturday edition that Enbridge, which is keen to repay debt and streamline operations after its acquisition last year of U.S. rival Spectra Energy, says it is on schedule to shed $3-billion in assets this year. The Globe's Jeff Lewis writes that chief executive officer Al Monaco reiterated plans on Friday to dispose of Enbridge's onshore renewables business as well as natural gas processing infrastructure in Canada and the United States as he seeks to cut debt and finance $22-billion in major projects. Enbridge will not expedite dispositions even though it has identified at least $10-billion worth of non-core assets. The CEO notes interest in the renewables and processing infrastructure has been strong. He says, "There's certainly nothing that indicates to us that additional asset sales will be required, but obviously if there are ideas that come forward or offers that are put on the table that we can't turn down, then we'll probably have a look at those." The Spectra deal vastly expanded Enbridge's network of pipelines in North America, but it has also added to its complexity and stoked worries about the firm's ability to pay for rising dividend payments and planned projects.

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