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Stock Market & Financial Investment News

News Breaks
March 25, 2013
12:50 EDTENBEnbridge management to meet with RBC Capital
Meeting to be held in the New York/Mid-Atlantic area on March 25 hosted by RBC Capital.
News For ENB From The Last 14 Days
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September 22, 2014
17:13 EDTENBEnbridge to transfer $1.76B of assets to Enbridge Income Fund
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September 18, 2014
12:28 EDTENBEnbridge Energy drop down from Enbridge a net postive, says Wells Fargo
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September 17, 2014
08:12 EDTENBEnbridge Energy receives $900M drop down proposal from Enbridge
Enbridge Energy Partners (EEP) has received a proposal initiated by Enbridge (ENB) through Enbridge Energy Company, EEP's general partner, under which Enbridge would drop down its 66.7% interest in the U.S. segment of the Alberta Clipper Pipeline to EEP for aggregate consideration of approximately $900M. The proposed consideration includes cash of approximately $300M, plus approximately $600M of a new Class E limited partner equity units to be issued to Enbridge by EEP. The proposed terms would not require EEP to issue any equity in the public market. The board of Enbridge Energy Management, the delegate of Enbridge, has appointed a special committee comprised of independent directors to review the proposal. Its acceptance is subject to the review and favorable recommendation by the special committee and final approval by the board. The drop down transaction is targeted to close by the end of 2014. The proposed contribution value corresponds to an approximate 11 times multiple of expected 2015 EBITDA. Alberta Clipper earns a stable cost of service return, which is not subject to variations in throughput or operating costs. EEP estimates that the proposed drop down is expected to be immediately accretive to distributable cash flow per unit by approximately 3%.
08:02 EDTENBEnbridge proposes to transfer $900M asset to Enbridge Energy
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