Brookfield Infrastructure Partners (BIP) Announces Sale of North American District Energy Business for $4.1 Billion

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Go back to Brookfield Infrastructure Partners (BIP) Announces Sale of North American District Energy Business for $4.1 Billion

Brookfield Infrastructure Announces Sale of North American District Energy Business for $4.1 Billion

February 2, 2021 7:30 AM EST

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 $4.1 billion on an enterprise value basis. Ontario Teachers Pension Plan Board and IFM Investors have agreed to acquire 100% of Enwaves Canadian business. Concurrently, QIC and Ullico have agreed to acquire 100% of Enwaves U.S. business. Net proceeds to BIP are expected to be approximately... More