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.