BROOKFIELD, News, Feb. 02, 2021 (GLOBE NEWSWIRE) -- Brookfield Infrastructure (NYSE: BIP; TSX: BIP.UN) today announced that it has signed definitive agreements to sell 100% of its North American district energy business, Enwave. The business will be divested through two separate transactions for total consideration of
“The sale of Enwave caps off a hugely successful investment for Brookfield Infrastructure, one in which we grew the business significantly through organic growth initiatives and follow-on acquisitions,” said Sam Pollock, Chief Executive Officer of Brookfield Infrastructure. “These transactions begin what we anticipate being another strong year for Brookfield Infrastructure’s capital recycling program.”
Enwave was first acquired by Brookfield Infrastructure in 2012 and has since experienced tremendous growth to become the largest district energy system in
This transaction further demonstrates continued strong execution on our capital recycling plans, with the proceeds from the sale expected to accretively fund a large component of our annual growth investment target of
Scotiabank and TD Securities are acting as joint financial advisors to Brookfield Infrastructure and Goodmans LLP and Mayer Brown LLP are acting as legal advisors.
Brookfield Infrastructure is a leading global infrastructure company that owns and operates high-quality, long-life assets in the utilities, transport, midstream and data sectors across
Brookfield Infrastructure is the flagship listed infrastructure company of Brookfield Asset Management, a global alternative asset manager with approximately
For more information, please contact:
| Media: Claire Holland Senior Vice President, Communications Tel: (416) 369-8236 Email: [email protected] | Investors: Rene Lubianski Managing Director, Strategic Initiatives Tel: (416) 956-5196 Email: [email protected] |
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