19:12:42 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 1,704,602,546
Close 2018-05-17 C$ 42.19
Market Cap C$ 71,917,181,416
Recent Sedar Documents

Globe says Enbridge to untangle layer of complexity

2018-05-18 08:29 ET - In the News

Also In the News (C-ENF) Enbridge Income Fund Holdings Inc

The Globe and Mail reports in its Friday edition that Enbridge vows to untangle its structure by buying out its four publicly traded units for $11.4-billion in stock. The Globe's Jeffrey Jones writes that the proposed move will result in all of its partly owned units -- Spectra Energy Partners, Enbridge Energy Partners, Enbridge Energy Management and Enbridge Income Fund Holdings -- being folded back into the parent company at various prices in the form of Enbridge shares. The transactions are aimed partly at removing a layer of complexity blamed for weighing down the stock following Enbridge's $37-billion takeover of Spectra in 2017. The units had been alternative sources of financing for Enbridge as it invested in major projects. The buyout or "roll-up" of what are known as sponsored vehicles, which have their own boards of directors and stock listings, follows $3.2-billion of asset sales that are also aimed at streamlining Enbridge as well as reducing debt taken on for the Spectra deal. Chief executive officer Al Monaco says cash flow from the varied oil and gas pipelines and utilities will be consolidated under one corporate umbrella, with the aim of returning to a richer valuation in the market.

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