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Transaction/Case Details

Enbridge Inc. Transfers Canadian Liquid Pipelines Business and Renewable Energy Assets to Enbridge Income Fund for C$30.4 billion

DATE CLOSED

September 1, 2015

BUSINESS SECTOR

Oil & Gas

LEAD OFFICE

Calgary

VALUE

30.4 Billion CAD


OVERVIEW

On September 1, 2015, Enbridge Inc. announced the closing of the transfer of its Canadian Liquids Pipelines business, comprised primarily of Enbridge Pipelines Inc. and Enbridge Pipelines Athabasca Inc., and certain Canadian renewable energy assets (the Transaction) to an indirect subsidiary of Enbridge Income Fund (the Fund) for C$30.4 billion together with certain Incentive/Performance Rights. A joint special committee (the Special Committee) of the Board of Directors of Enbridge Income Fund Holdings Inc. (EIFH) and the Board of Trustees of Enbridge Commercial Trust (ECT) was formed to review and consider the Transaction, conduct due diligence and negotiate the terms of the Transaction on behalf of EIFH, the Fund and ECT.

Enbridge Inc. was represented internally by extensive legal teams in Corporate Law, Corporate Secretarial, Liquids Pipelines Law and U.S. Law together with McCarthy Tétrault LLP and Dentons Canada LLP.

The McCarthy Tétrault team was led by John Osler and included Jim Pasieka, Wilson Acton, Peter Birkness, Jeremy Busch-Howell, Frances Candy, Matthew Flynn, Philippe Fortier, Matthew Harris, Jeremy Ho, Julien Ho, Ron Mar, Cathy Samuel, Sean Smyth, Barry Sookman and Shana Wolch.

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