18:04:47 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 1,704,602,546
Close 2018-05-09 C$ 41.48
Market Cap C$ 70,706,913,608
Recent Sedar Documents

Globe says asset deals raise $3.2B (U.S.) for Enbridge

2018-05-10 07:23 ET - In the News

The Globe and Mail reports in its Thursday edition that Enbridge is poised to blow past its target for asset sales this year, easing pressure on chief executive officer Al Monaco as he seeks to chop debt. The Globe's Jeff Lewis writes that Enbridge on Wednesday announced a pair of deals generating combined proceeds of about $3.2-billion. That is above its target of $3-billion for the year and before counting Canadian infrastructure assets it has on the block. RBC analyst Robert Kwan said, "If that comes to fruition, there is material upside to the $3-billion asset sale target." Enbridge said it is selling a 49-per-cent interest in wind and solar energy assets in North America and Germany for $1.75-billion to the Canada Pension Plan Investment Board. Separately, it said an affiliate of private equity firm ArcLight Capital Partners would buy its Midcoast Operating unit and related subsidiaries for about $1.44-billion. The sale includes natural-gas gathering and processing assets in Texas, Oklahoma and Louisiana. Enbridge is selling assets to finance growth and address concerns about its long-term debt, which swelled to $61-billion (U.S.) following its acquisition of U.S. rival Spectra Energy in 2016.

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