Brookfield Infrastructure acquires Enbridge Inc-Western Canadian for US$3,281M

CANADA - Brookfield Infrastructure Partners LP definitively agreed to acquire the Western Canadian natural gas gathering & processing business (business) of Enbridge Inc (Enbridge), a Calgary-based provider of pipeline transportation services of crude oil, for an estimated CAD 4.31 bil (USD 3.281 bil) in cash. Originally, in November 2017, Enbridge announced that it was seeking a buyer for its business.

The purpose of the transaction was for Brookfield Infrastructure Partners LP to strengthen its operations.

Date Announced: 07/04/2018
Deal Status (as of publication date): Pending
Deal Value (mil): $3,280.81

ACQUIRER ADVISORS*
Credit Suisse Group (Financial Advisor)
Norton Rose Fulbright LLP (Legal Advisor to Acquirer)
Osler, Hoskin & Harcourt LLP (Legal Advisor to Lender)

TARGET ADVISORS*
RBC Capital Markets (Financial Advisor)
Torys LLP (Legal Advisor to Parent)

Brookfield Infrastructure Partners LP, located in Toronto, Ontario, provides transportation, utility, and energy services, through its portfolio of infrastructure assets. The Company's properties, include, regulated terminal, electricity transmission, railroads, toll roads, ports, and energy transmission storage, located in Australasia, Europe, and North and South America. The Company was founded on May 21, 2007.

Western Canadian natural gas gathering and processing business of Enbridge Inc, located in Alberta, owns and operates 19 natural gas processing facilities with processing capacity of 3.3 Bcf/d.

Enbridge Inc, located in Calgary, Alberta, owns and operates crude oil and natural gas pipelines. It conducts its business through five operating segments: Liquids Pipelines, Gas Pipelines, Gas Distribution and Services, Sponsored Investments, and International. It is also engaged in renewable energy. It has operations in Ontario, Quebec, New Brunswick and New York State. The Company was founded in April 1949.

*List of advisors are those known at press time.