January 22, 2018 / 12:14 PM / 9 months ago

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

Jan 22 (Reuters) - Enbridge Inc:

* 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​ Source text for Eikon: Further company coverage:

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