Enbridge sells natural gas activities for CAD 4.3 billion

Canadian firm Enrbidge has sold its natural gas business, made up of 19 treatment facilities for natural gas and liquid nautral gas as well as 3,550 kilometers of gas pipelines.

BY RITZAU FINANS

Canadian firm Enbridge has entered a contract with Brookfield Infrastructure for the sale of Enbridge's natural gas business for CAD 4.3 billion, reports Bloomberg News.

The deal involves 19 natural and and liquid natural gas treatment facilities and 3,550 kilometers of gas pipeline.

Enbridge says it expects the sale to be carrier out in two stages. The facilities which require regional approval are expected to be sold in 2018 while those requiring federal approval will be sold in 2019.

Enrbidge shares rose by 1.5 percent in Toronto, while in New York the stock exchange was closed for the US's Independence Day.

English Edit: Lena Rutkowski

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