18:13:07 EDT Thu 28 Mar 2024
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or Name
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Enbridge Inc
Symbol ENB
Shares Issued 1,704,602,546
Close 2018-05-11 C$ 43.14
Market Cap C$ 73,536,553,834
Recent Sedar Documents

Globe says Enbridge may sell more assets to cut debt

2018-05-11 08:26 ET - In the News

Also In the News (C-HSE) Husky Energy Inc
Also In the News (C-KEY) Keyera Corp
Also In the News (C-PPL) Pembina Pipeline Corp

The Globe and Mail reports in its Friday, May 11, edition that Enbridge is mulling more asset sales after notching $3.2-billion in deals as it expedites efforts to cut debt. The Globe's Jeff Lewis writes that chief executive officer Al Monaco said on Thursday Enbridge is closely studying more deals based on strong interest in assets it has deemed non-essential to its business. Reuters reported Wednesday that Enbridge had received bids valuing its Canadian mid-stream assets as high as $4.5-billion. Citing unnamed sources, Reuters said Keyera, Pembina Pipeline and Husky Energy were among suitors that placed preliminary bids on the assets. Asked about the reports on Thursday, Mr. Monaco said: "I would say the essence of them is correct in that we are seeing very, very strong interest. So we're optimistic, actually, that we could see some pretty good values there and if we do see them then we'll move on it." Mr. Monaco is touting potential for more deals after surpassing a target of $3-billion for this year amid pressure from investors to pare debt amassed in the company's acquisition in 2016 of Spectra Energy. Enbridge also faces uncertainty over plans to replace its aging Line 3 oil pipeline in Minnesota.

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