Enbridge sale of interests in Alliance Pipeline and Aux Sable

On December 13, 2023, Enbridge Inc. ("Enbridge") announced that it entered into a definitive agreement to sell its 50.0% interest in Alliance Pipeline ("Alliance") and its 42.7% interest in Aux Sable to Pembina Pipeline Corporation ("Pembina") for a purchase price of C$3.1 billion, including non-recourse debt at Alliance of approximately C$0.3 billion.

Closing of the transaction was announced on April 1, 2024, following which Pembina became the sole operator of Alliance.

The divestiture represents a key element of Enbridge's financing plan. The sales proceeds will fund a portion of its strategic U.S. gas utilities acquisitions and for debt reduction.  

Further information can be found on Canada Newswire’s website and on enbridge.com.

Enbridge safely connects millions of people to the energy they rely on every day, through their North American natural gas, oil or renewable power networks and their growing European offshore wind portfolio. They are investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on two decades of experience in renewable energy to advance new technologies including wind and solar power, hydrogen, renewable natural gas and carbon capture and storage.