Canada’s Enbridge Accepts $1.7bln for Spanish Interests
Calgary-based Enbridge Inc., Canada’s largest pipeline company, is accepting $1.7bln for its 25% interest in Spanish crude products operator Compania Logistica de Hidrocarburos, divesting that interest to a group of investors as it focuses on Alberta’s burgeoning output.
Among the buyers are the Canadian Public Sector Pension Investment Board, AMP Capital Investors, and subsidiaries of Deutsche Bank.
Enbridge is planning to spend some C$12.2bln on its North American projects, including a C$2bln pipeline.