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New Deal


Announced

Enbridge to acquire Aitken Creek Storage from FortisBC for $400m.

Financials

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Transaction Value£318m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Acquisition

Integrated Oil and Gas

Domestic

natural gas

Majority

Private

Friendly

Single Bidder

Canada

Pending

Synopsis

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Enbridge, a pipeline and energy company, agreed to acquire Aitken Creek Storage, an integral part of the natural gas transmission system in Western Canada, from FortisBC, a natural gas company, for $400m. "Enbridge is pleased to acquire Aitken Creek Storage, a well-located and connected facility that will enable us to continue to meet regional energy needs as well as support increasing demand for west coast LNG exports. Natural gas plays an increasingly important role in the energy transition, and this investment further aligns with Enbridge's focus on providing the affordable, sustainable and reliable energy that is needed now and into the future," Cynthia Hansen, Enbridge Executive Vice President.

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