Enbridge to transfer some assets to Enbridge Income Fund for C$30.4 bln

Fri Jun 19, 2015 7:47am EDT
 
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June 19 (Reuters) - Enbridge Inc said it would transfer its Canadian liquids pipelines business and certain Canadian renewable energy assets to Enbridge Income Fund in a deal valued at C$30.4 billion ($24.81 billion).

The deal will provide Enbridge with an alternative source of funding for its growth opportunities and asset acquisitions, the company said on Friday.

Enbridge Income Fund, which is operated by Enbridge, holds a diversified portfolio of energy transportation and power generation businesses. ($1 = 1.2252 Canadian dollars) (Reporting by Sneha Banerjee in Bengaluru; Editing by Don Sebastian)