Deals
Enbridge Shakes Debt Woes With $3.3 Billion Sale to Brookfield
- Pipeline giant has sold $5.7 billion of assets this year
- Brookfield adds to purchase of Brazilian gas network
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Enbridge Inc.’s efforts to repair its balance sheet and focus on pipelines took a big step forward with the C$4.31 billion ($3.3 billion) sale of its Canadian natural gas gathering and processing businesses to a group led by Brookfield Asset Management Inc.
The deal includes assets that collect gas from drillers in the Montney, Peace River Arch, Horn River and Liard basins in British Columbia and Alberta, Calgary-based Enbridge said Wednesday. The unit has a total operating capacity of 3.3 billion cubic feet of gas a day.