Enbridge Income Fund Holdings Inc. Shareholders Approve Acquisition of $1.164 Billion of Crude Oil Storage and Renewable Power Generation Assets by Enbridge Income Fund


CALGARY, ALBERTA--(Marketwire - Dec. 7, 2012) -  


Enbridge Income Fund Holdings Inc. (the "Company") (ENF.TO) announced today that shareholders (other than Enbridge Inc. and certain of its related parties) have approved the $1.164B acquisition (the "Transaction") by indirect wholly-owned subsidiaries of Enbridge Income Fund (the "Fund") of entities which own crude oil storage and renewable power generation assets from Enbridge Inc. (ENB.TO) (ENB) and certain direct and indirect subsidiaries of Enbridge Inc., announced on October 25, 2012.

Closing of the Transaction will occur on December 10, 2012 (the "Closing Date"), subject to receipt of regulatory approvals.

To partially fund the acquisition by the Fund, the Company issued an aggregate of 9,597,000 subscription receipts ("Subscription Receipts") at a price of $23.15 per Subscription Receipt pursuant to a short form prospectus The Subscription Receipts register will close at 4:30 p.m. Mountain Standard Time on the Closing Date. On the Closing Date, the holder of a Subscription Receipt will receive one Common Share and a cash payment of $0.103, equivalent to the dividend paid on each Common Share by the Company on November 15, 2012 without any further action or additional consideration on the part of the holder. The Company will also pay such holder a cash payment on December 17, 2012 of $0.103 in respect of such Subscription Receipt, equivalent to the dividend declared on each Common Share to holders of record on November 30, 2012.

Trading of the Subscription Receipts will be halted on the Closing Date and delisted at the close of business on the same day. The Common Shares issued in respect of the Subscription Receipts have been listed and posted for trading on the Toronto Stock Exchange.

About Enbridge Income Fund Holdings Inc.

Enbridge Income Fund Holdings Inc. (the "Company") is a publicly traded corporation. The Company, through its investment in Enbridge Income Fund (the "Fund"), holds high quality energy infrastructure assets. The Fund's assets include a 50% interest in the Canadian segment of the Alliance Pipeline, a 100% interest in the various pipelines comprising the Saskatchewan System, and interests in more than 400 megawatts of renewable and alternative power generation capacity through a portfolio that includes the 80-MW Sarnia Solar Energy Project, interests in 314 MW of wind generation across five wind projects and a 50% interest in the NRGreen Limited Partnership's waste-heat generating facilities. More information about Enbridge Income Fund Holdings Inc. is available on the Company's website at www.enbridgeincomefund.com.

Certain information provided in this news release constitute forward-looking statements. Forward looking statements are typically identified by words such as "contemplate", "anticipate", "expect", "project", "estimate", "forecast" and similar words suggesting future outcomes or statements regarding an outlook. Although the Company believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements and assumptions are necessarily subject to a variety of risks and uncertainties pertaining to operating performance, regulatory parameters, weather, economic conditions and commodity prices. You can find a discussion of those risks and uncertainties in our Canadian securities filings. While the Company makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results, including with respect to expected earnings and associated per share amounts, or estimated future dividends, may vary significantly from those expected. Readers are cautioned against placing undue reliance on forward-looking statements. Except as may be required by applicable securities laws, the Company assumes no obligation to publicly update or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise.

Enbridge Income Fund Holdings Inc.
Jennifer Varey
(888) 992-0997 / (403) 508-6563

Enbridge Income Fund Holdings Inc.
Teri Majer
Investment Community
(403) 508-3185

View Comments (0)