Enbridge Completes Sale of New Brunswick Gas Business

Mario Cywinski
October 08, 2019
Written by
Enbridge Inc., has closed the previously announced transaction to sell Enbridge Gas New Brunswick Limited Partnership along with its general partner Enbridge Gas New Brunswick Inc. to Liberty Utilities (Canada) LP, a wholly-owned subsidiary of Algonquin Power & Utilities Corp., for a cash purchase price of CAD $331 million, subject to certain customary adjustments.

This asset sale demonstrates the continued execution of Enbridge's business strategy to focus on core pipeline and utility assets.

New Brunswick Gas is a regulated utility that provides natural gas to approximately 12,000 customers in 12 communities across New Brunswick, and operates approximately 1,200 km of natural gas distribution pipeline.

"We are pleased to mark a new milestone in the growth of our utility business with the acquisition of our first regulated utility in Canada," said Ian Robertson, Chief Executive Officer of APUC. "New Brunswick Gas has tremendous potential for growth which will be supported by our Fuel for the Future fund to assist residents of New Brunswick with the transition to clean, affordable natural gas for their homes and businesses."

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