January 27, 2017 / 11:15 AM / a year ago

BRIEF-Midcoast Energy says Enbridge Energy to buy all of co's outstanding units

Jan 27 (Reuters) - Midcoast Energy Partners LP

* Midcoast Energy Partners L.P. declares distribution for fourth quarter 2016; announces agreement for affiliate to acquire all publicly held common units

* Midcoast Energy Partners LP - deal for US$170.2 million.

* Midcoast Energy Partners LP - EECI will acquire, for cash, all of outstanding publicly held common units of MEP at a price of US$8.00 per common unit

* Midcoast Energy - upon conversion of subordinated units owned by EEP, EEP will own approximately 52 percent of MEP’s then outstanding common units

* Midcoast Energy Partners LP - board of general partner of MEP, unanimously approved merger agreement

* Midcoast Energy Partners LP - board of directors of its general partner declared a quarterly cash distribution of $0.3575 per unit Source text for Eikon: Further company coverage:

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