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Company News

Enbridge posts profit on Spectra deal

Nov 2 (Reuters) - Enbridge Inc , North America’s largest pipeline operator, on Thursday reported a quarterly profit, getting a boost from the acquisition of natural gas pipeline company Spectra Energy Corp.

Earnings attributable to shareholders was C$765 million ($595.38 million), or C$0.47 per share, in the third quarter ended Sept 30, compared with a loss of C$103 million, or C$0.11 per share, a year earlier.

Enbridge bought Spectra for $28 billion in a deal that closed on Feb. 27. ($1 = 1.2849 Canadian dollars) (Reporting by Ahmed Farhatha in Bengaluru and Nia Williams in Calgary; Editing by Bernard Orr)

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