CALGARY and HOUSTON, Dec. 17,
2018 /PRNewswire/ - Enbridge Inc. (TSX: ENB) (NYSE:
ENB) (Enbridge), on behalf of itself and certain of its wholly
owned U.S. subsidiaries, and Spectra Energy Partners, LP (NYSE:
SEP) (SEP) today announced that they have completed the previously
announced merger (the Merger) pursuant to an Agreement and Plan of
Merger dated as of August 24, 2018
(the Merger Agreement). The Merger resulted in Enbridge (through a
wholly owned subsidiary) acquiring all of the outstanding public
common units of SEP and SEP becoming an indirect, wholly owned
subsidiary of Enbridge.
Effective today, SEP unitholders of record as of the close of
business on November 5, 2018 (other
than Enbridge and its subsidiaries) are entitled to receive from
Enbridge pursuant to the Merger Agreement, for each SEP common unit
held, 1.111 common shares of Enbridge.
Also effective today, the SEP common units will be suspended
from trading on, and delisted from, the New York Stock Exchange
(NYSE). Common shares of Enbridge will continue to trade on both
the NYSE and the Toronto Stock Exchange under the symbol "ENB".
Forward Looking Statements
Certain information
provided in this news release constitutes forward-looking
statements. The words "anticipate", "expect", "project" and similar
words and expressions are intended to identify such forward-looking
statements. All statements other than statements of historical fact
may constitute forward-looking statements Forward-looking
information or statements included or incorporated by reference in
this document include, but are not limited to, statements with
respect to the suspension of the SEP common units from trading on,
and delisting from, the NYSE. Although Enbridge and SEP believe
these statements are based on information and assumptions which are
current, reasonable and complete, these statements are not
guarantees of future performance and readers are cautioned against
placing undue reliance on forward-looking statements. By their
nature, these statements involve a variety of assumptions, risks
and uncertainties which may cause actual results to differ from
those expressed or implied by such statements. Material assumptions
include assumptions about the satisfaction of all conditions to the
suspension from trading and delisting of the SEP common units.
While Enbridge and SEP make these forward-looking statements in
good faith, should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may vary significantly from those expected. Except
as may be required by applicable securities laws, Enbridge and SEP
assume no obligation to publicly update or revise any
forward-looking statements made herein or otherwise, whether as a
result of new information, future events or otherwise.
About Enbridge Inc.
Enbridge Inc. is North America's premier energy infrastructure
company with strategic business platforms that include an extensive
network of crude oil, liquids and natural gas pipelines, regulated
natural gas distribution utilities and renewable power generation.
The Company safely delivers an average of 2.9 million barrels of
crude oil each day through its Mainline and Express Pipeline;
accounts for approximately 62% of U.S.-bound Canadian crude oil
exports; and moves approximately 22% of all natural gas consumed in
the U.S., serving key supply basins and demand markets. The
Company's regulated utilities serve approximately 3.7 million
retail customers in Ontario,
Quebec, and New Brunswick. Enbridge also has interests in
more than 1,700 MW of net renewable generating capacity in
North America and Europe. The Company has ranked on the Global
100 Most Sustainable Corporations index for the past nine years;
its common shares trade on the Toronto and New
York stock exchanges under the symbol ENB.
Life takes energy and Enbridge exists to fuel people's
quality of life. For more information, visit
www.enbridge.com.
About Spectra Energy Partners, LP
Spectra Energy
Partners, LP is one of the largest pipeline master limited
partnerships in the United States
and connects growing supply areas to high-demand markets for
natural gas and crude oil. These assets include approximately
16,000 miles of transmission pipelines, approximately 170 billion
cubic feet of natural gas storage, and approximately 5.6 million
barrels of crude oil storage. Information about Spectra Energy
Partners, LP is available on its website at
www.spectraenergypartners.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Media
Michael
Barnes
Toll Free: (888) 992-0997
Email: media@enbridge.com
Investment Community
Toll Free: (800) 481-2804
Email: investor.relations@enbridge.com
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SOURCE Enbridge Inc.