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Enbridge affiliate to sell South Prairie liquids pipeline assets for C$1.08B

An EnbridgeIncome Fund Holdings Inc. affiliate agreed to sell its liquidpipelines assets in the South Prairie region in Saskatchewan and Manitoba toTundra Energy Marketing Ltd. for C$1.08 billion.

The assets for sale are Enbridge's liquid pipelines andfacilities in southeast Saskatchewan and southwest Manitoba, including theSaskatchewan and Weyburn gathering systems and the Westspur trunkline,according to a Sept. 29 news release by Enbridge Inc. The transaction is expected to closearound year-end.

"The monetization of these non-core assets at anattractive valuation provides a low-cost funding source for the Enbridge groupand further supports Enbridge Inc.'s industry leading cash flow and dividendgrowth outlook from our secured organic growth platform," EnbridgeExecutive Vice President and CFO John Whelen said. "The transaction isaccretive to the Fund Group's available cash flow from operations on a per unitbasis."