Stonlasec8 Indigenous Holdings Limited Partnership agreed to acquire 12.50% stake in Westcoast Natural Gas Pipeline System of Enbridge Inc. for approximately CAD 720 million.
Published on 05/15/2025
at 09:11 pm IST - Modified on 05/15/2025
Stonlasec8 Indigenous Holdings Limited Partnership agreed to acquire 12.50% stake in Westcoast Natural Gas Pipeline System of Enbridge Inc. (TSX:ENB) for approximately CAD 720 million on May 15, 2025. Stonlasec8 has also reached an agreement with Canada Indigenous Loan Guarantee Corporation (CILGC), a subsidiary of Canada Development Investment Corporation (CDEV), on a CAD 400 million loan guarantee to support the transaction. The agreement is subject to completion of required financing, closing conditions and customary closing adjustments. The transaction is expected to close at the end of the second quarter of 2025.
TD Securities Inc. is acting as financial advisor to Stonlasec8, Boughton Law Corporation as legal counsel, and MNP LLP as tax and business advisor. RBC Capital Markets Inc. acted as financial advisor to Enbridge Inc. (TSX:ENB).
Enbridge Inc. is an energy transportation and distribution company. The Company operates through five business segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. Liquids Pipelines consists of pipelines and terminals in Canada and the United States that transport and export various grades of crude oil and other liquid hydrocarbons. Gas Transmission and Midstream consists of its investments in natural gas pipelines and gathering and processing facilities in Canada and the United States. Gas Distribution and Storage consists of its natural gas utility operations. Renewable Power Generation consists of investments in wind and solar assets, geothermal, waste heat recovery, and transmission assets. Energy Services provides physical commodity marketing, logistics services, and energy marketing services. The Company owns Aitken Creek Gas Storage facility and Aitken Creek North Gas Storage facility.
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Stonlasec8 Indigenous Holdings Limited Partnership agreed to acquire 12.50% stake in Westcoast Natural Gas Pipeline System of Enbridge Inc. for approximately CAD 720 million.
