This asset sale demonstrates the continued execution of Enbridge's business strategy to focus on core pipeline and utility assets
Image: Enbridge completes sale of New Brunswick gas business. Photo: Courtesy of rawpixel from Pixabay.
Enbridge announced it has closed the previously announced transaction to sell Enbridge Gas New Brunswick Limited Partnership along with its general partner Enbridge Gas New Brunswick to Liberty Utilities, a wholly-owned subsidiary of Algonquin Power & Utilities Corp., for a cash purchase price of CAD $331 million, subject to certain customary adjustments.
This asset sale demonstrates the continued execution of Enbridge’s business strategy to focus on core pipeline and utility assets. The transaction proceeds will provide the Company with further flexibility to fund its attractive secured growth program.
Source: Company Press Release