Pembina Pipeline completed the acquisition of a 50% stake in Alliance Pipeline and a 42.7% stake in Aux Sable from Enbridge for $3.1bn.

Pembina Pipeline, an energy transportation and midstream service provider, completed the acquisition of a 50% stake in Alliance Pipeline and a 42.7% stake in Aux Sable, two NGL facilities operators, from Enbridge, a Canadian multinational pipeline and energy company, for $3.1bn. "We are pleased to continue our strong track record of surfacing value for shareholders through an ongoing capital recycling program. With this divestiture, we will have raised ~$14bn since 2018 at attractive valuations. Today's transaction reinforces our disciplined approach to capital allocation. We remain committed to optimizing our portfolio, enhancing our industry leading cash flow profile by reducing commodity price exposure, bolstering our financial flexibility, and maintaining a strong balance sheet," Pat Murray, Enbridge EVP and CFO.