8-KRegulation FDOther EventsExhibits & Filings

ENBRIDGE INC 8-K Report, Regulation FD Disclosure (Dec 20, 2018)

Filed December 20, 2018For Securities:ENBENBMFEBBGFEBRGFEBRZFENBGFENBRFENFFFEBGEFENBFFENBHFENBNFENBOFENBSFEBBNFENNPF

Summary

Enbridge Inc. (ENB) announced the successful completion of its previously announced acquisitions of Enbridge Energy Partners, L.P. (EEP) and Enbridge Energy Management, L.L.C. (EEQ) on December 20, 2018. These transactions, referred to as the EEP Merger and the EEQ Merger, represent a significant step in Enbridge's strategy to simplify its corporate structure and consolidate its North American energy infrastructure assets under a single entity. The completion of these mergers streamlines operations and is expected to enhance financial flexibility and create additional value for shareholders.

Key Highlights

  • 1Enbridge Inc. completed the acquisition of Enbridge Energy Partners, L.P. (EEP).
  • 2Enbridge Inc. also completed the acquisition of Enbridge Energy Management, L.L.C. (EEQ).
  • 3The acquisitions were finalized on December 20, 2018, following the execution of merger agreements on September 17, 2018.
  • 4Each EEP Class A common unit was converted into 0.335 Enbridge common shares.
  • 5Each EEQ Listed Share was converted into 0.335 Enbridge common shares.
  • 6The transactions are intended to simplify Enbridge's corporate structure.
  • 7The mergers were registered under the Securities Act of 1933 through Enbridge's Form S-4 registration statements.

Frequently Asked Questions

The main purpose of these mergers was to simplify Enbridge Inc.'s corporate structure by consolidating its master limited partnerships (EEP and EEQ) under the parent company. This is expected to improve operational efficiency, financial flexibility, and ultimately create shareholder value.

Holders of Enbridge Energy Partners, L.P. (EEP) Class A common units and Enbridge Energy Management, L.L.C. (EEQ) Listed Shares each received 0.335 shares of Enbridge Inc. common stock for every unit/share they held.

The mergers were officially completed on December 20, 2018.

As Enbridge Inc. has now acquired EEP and EEQ as wholly owned subsidiaries, the separate reporting requirements for EEP and EEQ as publicly traded entities are expected to cease, with their financial results being consolidated into Enbridge Inc.'s financial statements.