trending Market Intelligence /marketintelligence/en/news-insights/trending/lPmyZTi68aVfOFxw9KpbPA2 content esgSubNav
In This List

Enbridge closes roll-ups of sponsored affiliates to complete simplification push

Blog

Insight Weekly: Banks brace for recession; Europe PE deal values soar; US solar imports rebound

Video

According to Market Intelligence, December 2022

Blog

Insight Weekly: Layoffs swell; energy efficiency PE deals defy downturn; 2023 global risk themes

Podcast

Energy Evolution | How will US Democrats' new deal on climate affect the energy transition?


Enbridge closes roll-ups of sponsored affiliates to complete simplification push

Enbridge Inc. completed its mergers with Enbridge Energy Partners LP and Enbridge Energy Management LLC, wrapping up the roll-ups of its sponsored vehicles to simplify its corporate structure.

The deal resulted in the Alberta-based energy transportation conglomerate acquiring all of Enbridge Energy Partners' outstanding class A common units, with the partnership becoming an indirect subsidiary of Enbridge. Enbridge also acquired all of the outstanding listed shares of Enbridge Energy Management, which is now a direct subsidiary of Enbridge.

Enbridge Energy Partners unit holders and Enbridge Energy Management shareholders of record at the close of business Nov. 5 are set to receive 0.3350 Enbridge common share for each class A unit or listed share held. The securities of both entities will also no longer trade on the New York Stock Exchange.

Days earlier, Enbridge closed its simplification merger with Spectra Energy Partners LP. A similar deal with Enbridge Income Fund Holdings Inc. closed Nov. 8.