Impact: Neutral, as this announcement is aligned with comments made by Enbridge within the scope of the Spectra acquisition that ~$2 bn of non-core assets will be divested; however, the announcement came sooner than expected. The Company indicated that this sale will be accretive to the Fund Group's ACFFO on a per unit basis. We believe this implies that the interest savings from lowering corporate debt by $1,075 mm is greater than the ACFFO being generated by the asset base being sold.
30 Sep 2016
DIVESTS SE SASKATCHEWAN AND SW MANITOBA ASSETS FOR ~$1.075 BN
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DIVESTS SE SASKATCHEWAN AND SW MANITOBA ASSETS FOR ~$1.075 BN
Enbridgeome Fund (ENF:TSE) | 0 0 0.7% | Mkt Cap: 4,697m
- Published:
30 Sep 2016 -
Author:
Ian B. Gillies -
Pages:
3
Impact: Neutral, as this announcement is aligned with comments made by Enbridge within the scope of the Spectra acquisition that ~$2 bn of non-core assets will be divested; however, the announcement came sooner than expected. The Company indicated that this sale will be accretive to the Fund Group's ACFFO on a per unit basis. We believe this implies that the interest savings from lowering corporate debt by $1,075 mm is greater than the ACFFO being generated by the asset base being sold.