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Enbridge Income Fund Holdings Inc Completes Acquisition of Crude Oil Storage and Renewable Power Generation Assets from Enbridge Inc.

Monday, 10 Dec 2012 05:47pm EST 

Enbridge Income Fund Holdings Inc and Enbridge Income Fund (the Fund) announced the closing of the acquisition by indirect wholly owned subsidiaries of the Fund of entities which own crude oil storage and renewable power generation assets (collectively, the Assets) for $1.164 billion, subject to working capital adjustments, from Enbridge Inc. and certain of its direct and indirect wholly owned subsidiaries. A detailed discussion of the Assets and the acquisition transaction (the Transaction) is described in the news release dated October 25, 2012. Pursuant to the Transaction, the Company acquired 11,982,000 ordinary units of the Fund ("Fund Units"), which was funded by the issuance of 9,597,000 subscription receipts pursuant to a short form prospectus and the issuance of 2,385,000 Common Shares to Enbridge Inc. Holders of subscription receipts received one Common Share for each subscription receipt prior to closing of the Transaction. The issued and outstanding share capital of the Company now consists of an aggregate of 51,723,000 Common Shares and the Special Voting Share. Enbridge Inc. holds 10,294,000 (19.9%) of the issued and outstanding Common Shares and the Special Voting Share. The Company now holds 51,723,000 (84.5%) of the Fund Units, with Enbridge Inc. holding the remaining 9,500,000 (15.5%) Fund Units. 

Company Quote

-0.11 -0.36%
30 Sep 2014