Sign Up for FREE Daily Energy News
Canadian Flag CDN NEWS  |  US Flag US NEWS  | TIMELY. FOCUSED. RELEVANT. FREE
  • Stay Connected
  • linkedin
  • twitter
  • facebook
  • youtube2
BREAKING NEWS:

Vista Projects
Copper Tip Energy Services
Hazloc Heaters
Hazloc Heaters
Vista Projects
Copper Tip Energy


Enbridge to buy Spectra Energy for $3.3 billion


English Español 简体中文 हिन्दी Português
These translations are done via Google Translate

(Reuters) – Enbridge Inc, Canada’s largest pipeline operator, said on Friday it would buy its U.S. master limited partnership Spectra Energy Partners for a sweetened deal of $3.3 billion.

Pipeline companies are reorganizing their business structure after the U.S. Federal Energy Regulatory Commission in March stopped them from claiming an income tax allowance as part of the fees they charge shippers.

“Significant weakening of the US Master Limited Partnership capital markets has adversely affected the growth opportunities for MLPs, including Spectra,” Enbridge said in a statement.

All Business Marketing - Teledyne FLIR
GLJ

Spectra Energy shares rose 5.7 percent to $40 in premarket trading, while those of Enbridge were marginally down.

GLJ
All Business Marketing - Teledyne FLIR

Reporting by Shanti S Nair in Bengaluru; Editing by Saumyadeb Chakrabarty and Anil D’Silva



Share This:



More News Articles


GET ENERGYNOW’S DAILY EMAIL FOR FREE