Enbridge Bolsters Corporate Family to Accommodate Line 3 Pipeline Program
SUGAR LAND--January 30, 2017--Researched by Industrial Info Resources (Sugar Land, Texas)--Enbridge Incorporated (NYSE:ENB) (Calgary, Alberta) announced last week that it would pay roughly $170 million to take private its subsidiary Midcoast Energy Partners LP by acquiring all of its outstanding publicly-held common units, in an effort to reduce costs. Midcoast partially owns the natural gas gathering and processing businesses of Enbridge Energy Partners LP (NYSE:EEP), in which Enbridge Incorporated has a 21.1% stake. Industrial Info is tracking $9.65 billion in active projects involving Enbridge Incorporated, including $3.48 billion involving Enbridge Energy Partners LP.
Within this article: Details on the planned acquisition and one of Enbridge Energy Partners' most wide-ranging, closely watched projects.
