EEP already owns the remaining 33.3% interest in the 36-inch diameter, 325 mile long crude oil pipeline, which runs from the US border near Neche, North Dakota to Superior, Wisconsin.
EEP will pay $600m in equity and $300m in cash to Enbridge for the pipeline interest.
Built under a joint funding agreement, the pipeline has an initial capacity of 450,000 barrels per day (bpd) and is currently being expanded to a capacity of 800,000 bpd by adding increased pumping horsepower.
The transfer is likely to be completed by the end of 2014.
Enbridge executive vice president, chief financial officer and corporate development officer Richard Bird said: "This is the latest in a series of actions which Enbridge has taken to enhance EEP’s distributable cash flow and restore its effectiveness as one of the sources of low cost funding for Enbridge’s organic growth opportunities and, through drop downs such as this one, for Enbridge’s broader growth capital program."
