October 01, 2018
Torys is representing Enbridge with a team that includes Derek Flaman, Peter Danner, Amy Maginley and Carleigh Kennedy (corporate/M&A), Omar Wakil (competition), Mitch Frazer and Tom Stevenson (pensions and employment), Tyson Dyck (environmental), Lou Cusano, Aaron Emes and Evan Dickinson (energy regulatory).
On July 4, 2018, Enbridge Inc. (“Enbridge”) announced that it entered into definitive agreements to sell its Canadian natural gas gathering and processing business in the Montney, Peace River Arch, Horn River and Liard basins in British Columbia and Alberta (the "G&P Business") to Brookfield Infrastructure (“Brookfield”) and its institutional partners for a cash purchase price of C$4.31 billion, subject to customary closing adjustments and receipt of regulatory approvals.
The G&P Business, which under Brookfield’s ownership will be named NorthRiver Midstream Inc., includes 19 provincially and federally regulated natural gas processing plants and liquids handling facilities, with a total operating capacity of 3.3 Bcf/d and 3,550 km of natural gas gathering pipelines.
Separate sale agreements were entered into for those facilities currently governed by provincial regulations (Alberta and B.C.), and those governed by federal National Energy Board regulations.
Enbridge and Brookfield announced the closing of the provincially regulated portion of the agreement, representing C$2.5 billion of the C$4.31 billion transaction, on October 1, 2018. The sale of the remaining federally regulated assets is expected to close in mid-2019.
Enbridge is North America's premier energy infrastructure company with strategic business platforms that include an extensive network of crude oil, liquids and natural gas pipelines, regulated natural gas distribution utilities and renewable power generation.
Brookfield Infrastructure is a leading global infrastructure company that owns and operates high quality, long-life assets in the utilities, transport, energy and communications infrastructure sectors across North and South America, Asia Pacific and Europe.
Further information can be found on Canada Newswire’s website.