CDPQ-backed Trencap to acquire a 38.9% stake in Noverco from Enbridge for $1.14bn.

Caisse de dépôt et placement du Québec-backed Trencap, a limited partnership, agreed to acquire a 38.9% stake in Noverco, a company engaged in distribution of natural gas, from Enbridge, a North American energy infrastructure company, for $1.14bn. "We're pleased to opportunistically monetize this non-strategic financial investment in Noverco at an attractive valuation and surface this value for our shareholders. This transaction further enhances our already sector-leading financial strength and flexibility and demonstrates our disciplined approach to capital allocation," Colin Gruending, Enbridge CFO.