CALGARY, AB, Dec. 30, 2021 /CNW/ - Enbridge Inc. (TSX:
ENB) (NYSE: ENB) today announced the closing of the agreement
through which a subsidiary of Enbridge has sold its 38.9%
non-operating minority ownership interest in Noverco Inc. to
Trencap L.P. for $1.14 billion in
cash, previously announced on June 7,
2021.
The sale of our financial interest in Noverco Inc. will further
strengthen our financial flexibility. Proceeds from the sale will
be initially used to repay short term borrowings and support
Enbridge's secured capital program.
Trencap L.P. is a consortium led by Caisse de dépôt et placement
du Québec (CDPQ).
About Enbridge Inc.
Enbridge Inc. is a leading North American energy
infrastructure company. We safely and reliably deliver the energy
people need and want to fuel quality of life. Our core businesses
include Liquids Pipelines, which transports approximately 25
percent of the crude oil produced in North America; Gas Transmission and Midstream,
which transports approximately 20 percent of the natural gas
consumed in the U.S.; Gas Distribution and Storage, which serves
approximately 3.8 million retail customers in Ontario and Quebec; and Renewable Power Generation, which
owns approximately 1,766 megawatts (net) in renewable power
generation capacity in North
America and Europe. The
Company's common shares trade on the Toronto and New
York stock exchanges under the symbol ENB. For more
information, visit www.enbridge.com.
Forward-Looking Information
Forward-looking information, or forward-looking statements,
have been included in this news release to provide information
about Enbridge Inc. ("Enbridge" or the "Company") and its
subsidiaries and affiliates, including management's assessment of
Enbridge and its subsidiaries' future plans and operations. This
information may not be appropriate for other purposes.
Forward-looking statements are typically identified by words such
as ''anticipate'', ''expect'', ''project'', ''estimate'',
''forecast'', ''plan'', ''intend'', ''target'', ''believe'',
"likely", "will" and similar words suggesting future outcomes or
statements regarding an outlook. Forward-looking information or
statements in this news release include statements with respect to
Enbridge's financial flexibility and use of proceeds.
Although Enbridge believes these forward-looking statements
are reasonable based on the information available on the date such
statements are made and processes used to prepare the information,
such statements are not guarantees of future performance and
readers are cautioned against placing undue reliance on
forward-looking statements. By their nature, these statements
involve a variety of assumptions, known and unknown risks and
uncertainties and other factors, which may cause actual results,
levels of activity and achievements to differ materially from those
expressed or implied by such statements. Assumptions regarding the
expected supply of and demand for crude oil, natural gas, NGL, LNG
and renewable energy, and the prices of these commodities, are
material to and underlie all forward-looking statements, as they
may impact current and future levels of demand for the Company's
services. Similarly, energy transition, including the drivers and
pace thereof, the COVID-19 pandemic, exchange rates, inflation and
interest rates impact the economies and business environments in
which the Company operates and may impact levels of demand for the
Company's services and cost of inputs, and are therefore inherent
in all forward-looking statements. Due to the interdependencies and
correlation of these macroeconomic factors, the impact of any one
assumption on a forward-looking statement cannot be determined with
certainty.
Enbridge's forward-looking statements are subject to risks
and uncertainties, including but not limited to those risks and
uncertainties discussed in this news release and in the Company's
other filings with Canadian and United
States securities regulators. The impact of any one risk,
uncertainty or factor on a particular forward-looking statement is
not determinable with certainty as these are interdependent and
Enbridge's future course of action depends on management's
assessment of all information available at the relevant time.
Except to the extent required by applicable law, Enbridge assumes
no obligation to publicly update or revise any forward-looking
statements made in this news release or otherwise, whether as a
result of new information, future events or otherwise. All
subsequent forward-looking statements, whether written or oral,
attributable to Enbridge or persons acting on the Company's behalf,
are expressly qualified in their entirety by these cautionary
statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Media
Toll Free: (888) 992-0997
Email: media@enbridge.com
Investment Community
Toll Free: (800) 481-2804
Email: investor.relations@enbridge.com
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SOURCE Enbridge Inc.