Enbridge Shedding Midstream, Renewable Assets In Effort to Strengthen its Balance Sheet

摘要

Calgary-based Enbridge Inc. on Wednesday announced that it has agreed to sell its Midcoast Operating, L.P. (Midcoast) midstream unit and related subsidiaries to AL Midcoast Holdings, LLC (AL Midcoast), an affiliate of ArcLight Capital Partners, LLC., in an all-cash deal for US$1.12 billion. The transaction is expected to close in the third quarter. For Enbridge, the deal marks a shift toward 'a pure regulated pipeline and utility model' and positions the company to achieve its goal of 'selling C$3 billion in non-core assets in 2018,' CEO Al Monaco said.