Business
Enbridge Announces Strategic Acquisition of Three U.S. Based Utilities to Create Largest Natural Gas Utility Franchise in North America
Enbridge Announces Strategic Acquisition of Three U.S. Based Utilities to Create Largest Natural ...
About this update from Enbridge Inc.
[{"type":"text","content":"\n \n \n \n Enbridge Announces Strategic Acquisition of Three U.S. Based Utilities to Create Largest Natural Gas Utility Franchise in North America\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prngen3{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnml6{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.50em !IMPORTANT\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n HIGHLIGHTS:\n \n \n \n \n Enbridge has entered into definitive agreements with Dominion Energy, Inc. to acquire The East Ohio Gas Company (\"EOG\"), Questar Gas Company (\"Questar Gas\"), and its related Wexpro companies (\"Wexpro\" and collectively with Questar Gas, \"Questar\"), and Public Service Company of\n \n North Carolina\n \n , Incorporated (\"PSNC\") (collectively the \"Gas utilities\") for an aggregate purchase price of US$14.0 billion (\n \n CDN$19 billion\n \n \n 1\n \n ), comprised of\n \n US$9.4 billion\n \n of cash consideration and\n \n US$4.6 billion\n \n of assumed debt (the \"Acquisitions\").\n \n \n Creates\n \n North America's\n \n largest natural gas utility platform delivering ~9.3 bcf/d to ~7 million customers across multiple regulatory jurisdictions.\n \n \n Historically attractive acquisition multiples, based on 2024 estimate of ~1.3x Enterprise Value-to-Rate Base and 2023 estimate of ~16.5x Price-to-Earnings.\n \n \n Compounded annual growth rate of approximately 8% on the consolidated rate base is expected to deliver long-term value for Enbridge shareholders.\n \n \n Expected to be accretive to distributable cash flow per share (\"DCFPS\") and adjusted earnings per share (\"EPS\") in the first full year of ownership, increasing ...