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BRIEF-Enbridge Inc And Spectra Energy Partners Announce Definitive Agreement And Completion Of Elimination Of Incentive Distribution Rights

Published 2018-01-22, 07:09 a/m
© Reuters.  BRIEF-Enbridge Inc And Spectra Energy Partners Announce Definitive Agreement And Completion Of Elimination Of Incentive Distribution Rights
ENB
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Jan 22 (Reuters) - Enbridge Inc ENB.TO :

* ENBRIDGE INC. AND SPECTRA ENERGY PARTNERS, LP ANNOUNCE DEFINITIVE AGREEMENT AND COMPLETION OF THE ELIMINATION OF INCENTIVE DISTRIBUTION RIGHTS

* ENBRIDGE INC - AS PART OF TRANSACTION, ALL OF IDRS HAVE BEEN ELIMINATED

* ENBRIDGE INC - 172.5 MILLION NEWLY ISSUED SEP COMMON UNITS HAVE A VALUE OF APPROXIMATELY US$7.2 BILLION

* ENBRIDGE INC - SEP MAINTAINS ITS CURRENT GUIDANCE OF 7% DISTRIBUTION GROWTH IN 2018

* ENBRIDGE INC - CO NOW HOLDS A NON-ECONOMIC GP INTEREST IN SEP AND OWNS APPROXIMATELY 403 MILLION SEP COMMON UNITS

* ENBRIDGE INC - SEP MAINTAINS ITS CURRENT GUIDANCE OF 4-6% DISTRIBUTION GROWTH IN 2019-20

* ENBRIDGE INC - ENBRIDGE BOARD OF DIRECTORS REVIEWED AND APPROVED THIS TRANSACTION

* ENBRIDGE - EXECUTION OF AGREEMENT, RESULTING IN CO CONVERTING ALL IDRS AND GP ECONOMIC INTERESTS IN SEP INTO 172.5 MILLION NEWLY ISSUED SEP COMMON UNITS

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