On September 1, 2015, Enbridge Inc. announced the closing of the transfer of its Canadian Liquids Pipelines business, comprised primarily of Enbridge Pipelines Inc. and Enbridge Pipelines Athabasca Inc., and certain Canadian renewable energy assets (the Transaction) to an indirect subsidiary of Enbridge Income Fund (the Fund) for $30.4 billion together with certain Incentive/Performance Rights. A joint special committee (the Special Committee) of the Board of Directors of Enbridge Income Fund Holdings Inc. (EIFH) and the Board of Trustees of Enbridge Commercial Trust (ECT) was formed to review and consider the Transaction, conduct due diligence and negotiate the terms of the Transaction on behalf of EIFH, the Fund and ECT.
Enbridge Inc. was represented internally by extensive legal teams in corporate law, corporate secretarial, liquids pipelines law and US law together with McCarthy Tétrault LLP
and Dentons Canada LLP
The McCarthy Tétrault team was led by John Osler, QC, and included Wilson Acton, Peter Birkness, Jeremy Busch-Howell, Frances Candy, Matthew Flynn, Philippe Fortier, Matthew Harris, Jeremy Ho, Julien Ho, Ron Mar, Cathy Samuel, Sean Smyth, Barry Sookman and Shana Wolch.
The Dentons team was led by William Jenkins and included Mike Hurst, George Antonopoulos, Barry Zalmanowitz, Doug Crowther, Dennis Langen, Cameron Hughes, Craig McDougall, Stephanie Campbell, Dan Shea, Priscilla Bunke, Courtney Burton, Nathan Roberts, Jonathan Cumming and Matt Storey.
The Special Committee was represented by a team from Norton Rose Fulbright Canada LLP led by Justin Ferrara and included Robert Engbloom, Ryan Keays, Dion Legge, Alan Harvie, Crae Garrett, Rujuta Patel, Thierry Dorval, Steve Malas, Amar Leclair-Ghosh, Thomas Collopy, Jason Giborski, Robert Joseph, Grant Stevens, Jordan Sharkey, Adam Lamoureux and Burke Vindevoghel.
RBC Capital Markets acted as the financial advisor to Enbridge Inc.
Jeremy Fraiberg and Donald Gilchrist of Osler, Hoskin & Harcourt LLP acted for BMO Capital Markets, the independent valuator and financial advisor to the Special Committee.