Enbridge Pipelines Inc. Announces Completion of the Transfer of Its U.S. Subsidiary to an Enbridge Inc. Subsidiary
CALGARY, ALBERTA–(Marketwired – Aug. 10, 2015) – Enbridge Pipelines Inc. (EPI) today announced that it has completed its transfer of EPI’s ownership interest in Enbridge Energy Company, Inc., a wholly-owned U.S. subsidiary of EPI, to a wholly-owned subsidiary of Enbridge Inc. (“U.S. Reorganization”).
The U.S. Reorganization was part of a previously planned structural reorganization, which commenced in 2011, and a pre-closing transaction for the transfer of Enbridge’s Canadian Liquids Pipelines Business and Renewable Energy Assets to the Enbridge Income Fund as previously announced on June 19, 2015.
About Enbridge Inc.
Enbridge, a Canadian Company, is a North American leader in delivering energy and has been included on the Global 100 Most Sustainable Corporations in the World ranking for the past seven years. As a transporter of energy, Enbridge operates, in Canada and the United States, the World’s longest crude oil and liquids transportation system. The Company also has significant and growing involvement in natural gas gathering, transmission and midstream businesses, and an increasing involvement in power transmission. As a distributor of energy, Enbridge owns and operates Canada’s largest natural gas distribution company and provides distribution services in Ontario, Quebec, New Brunswick and New York State. As a generator of energy, Enbridge has interests in more than 2,200 megawatt (MW) (1,600 MW net) of renewable and alternative energy generating capacity and is expanding its interests in wind, solar and geothermal facilities. Enbridge employs more than 11,000 people, primarily in Canada and the United States and is ranked as one of Canada’s Top 100 Employers for 2015. Enbridge’s common shares trade on the Toronto and New York stock exchanges under the symbol ENB. For more information, visit www.enbridge.com. None of the information contained in, or connected to, Enbridge’s website is incorporated in or otherwise part of this news release.