TSX:ENBOil and Gas
How Enbridge’s C$2.7 Billion KKR and Apollo Pipeline JV Has Changed Its Investment Story (TSX:ENB)
Earlier this week, Enbridge announced a C$2.70 billion joint venture with KKR and Apollo to finance its already-approved Aspen Point and Sunrise expansions on the Westcoast natural gas pipeline system, with the investors ultimately acquiring a 29% interest while Enbridge retains operational control.
The deal uses long-term take-or-pay contracts and a future repurchase option to bring in third-party capital, easing Enbridge’s funding burden while preserving control and potential upside from...