Deals
Enbridge Hires RBC to Sell Western Canadian Gas Assets
- Canadian assets could fetch more than C$2 billion in sale
- Gathering and processing assets previously owned by Spectra
Oil pipes run into the ground at the Enbridge Inc. Cushing storage terminal in Cushing, Oklahoma, U.S., on March 25, 2015.
Photographer: Daniel Acker/Bloomberg
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Embattled pipeline company Enbridge Inc. is working with advisers to sell a group of Canadian gathering and processing assets that could fetch more than C$2 billion ($1.56 billion), according to people with knowledge of the matter.
Calgary-based Enbridge has hired Royal Bank of Canada to help with the sale process, said the people, who asked not to be identified because the details are private. The package of assets, located across British Columbia and Alberta, was owned by Spectra Energy Corp., which agreed to be acquired by Enbridge in 2016 for about $29 billion.