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Enbridge completes C$1.164 billion sale of crude oil storage and renewable power generation assets to Enbridge Income Fund

Date Closed

December 10, 2012

Lead Office



1.16 Billion CAD

On December 10, 2012, Enbridge Income Fund Holdings (the "Company") 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 for C$1.164 billion, subject to working capital adjustments, from Enbridge Inc. and certain of its direct and indirect wholly-owned subsidiaries. Enbridge Income Fund Holdings, completed a public offering of subscription receipts, proceeds of which were used to indirectly partially fund the purchase price of the acquisition.

Enbridge, headquartered in Calgary, Alberta, is a Canadian crude oil and liquids pipeline company.

McCarthy Tétrault LLP represented Enbridge, as vendor, with a team led by John Osler, and including Wilson Acton, Matthew Harris, and TJ Kang.