Enbridge Inc. (NYSE: ENB) said Jan. 27 it would pay about $170 million to take Midcoast Energy Partners LP (NYSE: MEP) private, which also has a stake in natural gas pipelines owned by Enbridge Energy Partners LP (NYSE: EEP).
Enbridge Inc. has a 21.1% stake in Enbridge Energy Partners, which owns and operates crude oil and natural gas pipelines in the U.S.
The company said the deal would help Enbridge reduce costs and simplify its corporate structure.
Enbridge Inc. said that a strategic review of Enbridge Energy Partners was ongoing and was expected to continue through the second quarter.
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