On May 1, 2009, Enbridge Inc. and Circuit Technology Limited completed the sale of NetThruPut Inc., an Internet-based exchange and clearing facility for crude oil products, to TMX Group Inc.
The final purchase price was approximately $52.2 million, which was comprised of approximately $22.6 million in cash and the issuance of approximately 880,000 TMX Group common shares.
TMX Group Inc. was represented by Cheryl Graden, chief legal counsel of Natural Gas Exchange Inc., a TMX subsidiary, and Cathy Watkins, legal counsel of Natural Gas Exchange and a team from Bennett Jones LLP that included Mark Powell, Christopher Skelton and Kahlan Mills (corporate, M&A); Beth Riley (competition); and Darcy Moch and Alan Rautenberg (tax).
Enbridge was represented by Darby J. Wade, vice president, general counsel and chief compliance officer of Enbridge Inc. and a team from McCarthy Tétrault LLP including Crispin Arthur and Janet Erskine (corporate, M&A); Doug Ewens and T.J. Kang (tax); Rick Pawluk (competition) and Gregory Winfield (pensions). Circuit was represented by a team from Felesky Flynn LLP including Brent Perry and Gail Lai (tax).