Enbridge Inc. announced a restructuring plan Thursday that would see it offer $11.4 billion in shares to co-investors in four affiliated businesses, in order to offset risks caused by the loss of a U.S. tax allowance for certain interstate pipelines.
If the series of transactions unfold as anticipated, investors in all the companies and limited partnerships would hold shares in Enbridge, one of North Americas largest energy infrastructure companies.
The Calgary-based company holds pipelines in the United States that are losing tax advantages previously provided to so-called master limited partnerships, or MLPs. Enbridge has two MLPs, Enbridge Energy Partners, and Spectra Energy Partners.
The …
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