Enbridge Gas Distribution Announces Sale of St. Lawrence Gas Business

(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 08/31/17 -- Enbridge Gas Distribution Inc. ("Enbridge Gas Distribution") announced today that it has entered into a definitive agreement for the sale of St. Lawrence Gas Company, Inc. ("St. Lawrence Gas") and its subsidiaries to Liberty Utilities Co. ("Liberty Utilities"), a wholly owned subsidiary of Algonquin Power & Utilities Corp., for a cash sale price of U.S. $70 million, minus total third-party debt of St. Lawrence Gas at closing, and subject to customary working capital adjustments. Closing of the transaction remains subject to certain required regulatory approvals and other customary closing conditions, and is expected to occur in 2018.

"The sale of St. Lawrence Gas aligns with our strategic priorities and enhances our competitiveness, while helping maintain a sustainable foundation upon which we can deliver our long-term growth plans," said Jim Sanders, president, Enbridge Gas Distribution.

Employees, customers and suppliers of St. Lawrence Gas can expect business as usual as Enbridge Gas Distribution works with Liberty Utilities to successfully complete the transition of ownership.

St. Lawrence Gas operates and maintains 685 miles of natural gas distribution pipeline in St. Lawrence, Lewis and Franklin counties in New York State, to serve its 16,003 customers.

About Enbridge Gas Distribution Inc.

Enbridge Gas Distribution Inc. has a more than 165-year history and is Canada's largest natural gas distribution company. It is owned by Enbridge Inc., a Canadian-based leader in energy transportation and distribution. Enbridge Gas Distribution distributes natural gas to over two million customers in Ontario.



Contacts:
Enbridge Gas Distribution Media
Toll Free: 1-855-884-5112


Investor Relations
Toll Free: 1-855-481-2804

Weitere Infos zu dieser Pressemeldung:

Themen in dieser Pressemitteilung:


Unternehmensinformation / Kurzprofil:
Bereitgestellt von Benutzer: Marketwired
Datum: 31.08.2017 - 12:00 Uhr
Sprache: Deutsch
News-ID 558391
Anzahl Zeichen: 0

contact information:
Town:

TORONTO, ONTARIO

Kategorie:

Oil & Gas

Diese Pressemitteilung wurde bisher 289 mal aufgerufen.


Die Pressemitteilung mit dem Titel:
"Enbridge Gas Distribution Announces Sale of St. Lawrence Gas Business"
steht unter der journalistisch-redaktionellen Verantwortung von

Enbridge Gas Distribution Inc. (Nachricht senden)

Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).

Enbridge Gas Distribution launches 2017/2018 Energy School Challenge ...

TORONTO, ONTARIO -- (Marketwired) -- 10/17/17 -- Enbridge Gas Distribution is challenging students to find ways to save energy, while earning great prizes for their schools.Enbridge Gas Distribution's Energy School Challenge (the Challenge) - n ...

Enbridge Gas Distribution Rates Change October 1 ...

TORONTO, ONTARIO -- (Marketwired) -- 09/21/17 -- Enbridge Gas Distribution Inc. (Enbridge) has received approval from the Ontario Energy Board (OEB) for new rates, effective October 1, 2017.Typical residential customers(i) who buy their gas supply f ...

Enbridge Gas Distribution Rates Change July 1 ...

TORONTO, ONTARIO -- (Marketwired) -- 06/27/17 -- Enbridge Gas Distribution Inc. (Enbridge) has received approval from the Ontario Energy Board (OEB) for new rates, effective July 1, 2017. Typical residential customers(i) who buy their gas supply fro ...

Alle Meldungen von Enbridge Gas Distribution Inc.