Enbridge Completes Sale of its Interests in Alliance Pipeline & Aux Sable
Source: www.gulfoilandgas.com 4/1/2024, Location: North America
Enbridge Inc. ("Enbridge") (TSX: ENB) (NYSE: ENB) announced the closing of the agreement to sell its 50.0% interest in Alliance Pipeline and its 42.7% interest in Aux Sable to Pembina Pipeline Corporation ("Pembina") (TSX: PPL) (NYSE: PBA) for $3.1 billion, previously announced on December 13, 2023.
This is an important milestone and Enbridge remains committed to working closely with Pembina to ensure the safe and reliable operation of the assets during the transition period.
The divestiture represents a key element of Enbridge's financing plan. The sale proceeds will fund a portion of the Company's strategic U.S. gas utilities acquisitions and be used for debt reduction.
