Will buy about one-third ownership in a pipeline system that will carry crude oil from North Dakota to the U.S. Midwest and the U.S. Gulf Coast
CALGARY — Enbridge Inc. (TSE:ENB) and partner companies have struck a US$2-billion deal to buy about one-third ownership in a pipeline system that will carry crude oil from North Dakota to the U.S. Midwest and the U.S. Gulf Coast.
Calgary-based Enbridge will provide US$1.5 billion to its affiliate Enbridge Energy Partners (NYSE:EEP), which will acquire a 27.6 per cent indirect interest in the Bakken pipeline system.
Ohio-based Marathon Petroleum will pay a further US$500 million for a 9.2 per cent indirect stake in the system.
Read the full article at: ca.finance.yahoo.com
