CALGARY, May 18, 2018 /CNW/ - Enbridge Income Fund
Holdings Inc. (TSX:ENF) (the Company) announced that it has
received a non-binding offer from Enbridge Inc. (Enbridge) (TSX,
NYSE: ENB) to acquire all of the outstanding common shares of the
Company not currently owned by Enbridge.
The board of directors of the Company (the Board) has
established a special committee of independent directors to review
and consider the proposal.
The proposed transaction is subject to conditions, including the
review and favorable recommendation by the special committee,
approvals by the Board and the Enbridge board of directors,
approvals by the shareholders of the Company and the negotiation of
a definitive agreement. Any definitive agreement is expected to
contain customary closing conditions, including standard regulatory
notifications and approvals. There can be no assurance that any
transaction will be consummated.
Shareholders of the Company do not need to take any action with
respect to the proposal at this time.
FORWARD-LOOKING INFORMATION
This communication includes certain forward looking
statements and information (FLI) to provide shareholders of the
Company and potential investors with information about the Company
and its subsidiaries and affiliates. FLI is typically identified by
words such as "anticipate", "expect", "project", "estimate",
"forecast", "plan", "intend", "target", "believe", "likely" and
similar words suggesting future outcomes or statements regarding an
outlook. All statements other than statements of historical fact
may be FLI. In particular, this news release contains FLI
pertaining to, but not limited to, information with respect to a
proposed transaction between the Company and Enbridge.
Although we believe that the FLI is reasonable based on the
information available today and processes used to prepare it, such
statements are not guarantees of future performance and you are
cautioned against placing undue reliance on FLI. By its nature, FLI
involves a variety of assumptions, which are based upon factors
that may be difficult to predict and that may involve known and
unknown risks and uncertainties and other factors which may cause
actual results, levels of activity and achievements to differ
materially from those expressed or implied by these FLI, including,
but not limited to, the following: the negotiation and execution,
and the terms and conditions, of definitive agreements relating to
the proposed transactions and the ability of Enbridge or the
Company to enter into or consummate such agreements; the risk that
the proposed transaction does not occur; negative effects from the
pendency of the proposed transaction; the ability to realize
expected cost savings and benefits; failure to obtain the required
vote of the Company's shareholders or board support; the timing to
consummate the proposed transactions; the focus of management time
and attention on the proposed transactions and other disruptions
arising from the proposed transactions; estimated future dividends
and distributions; financial strength and flexibility; debt and
equity market conditions, including the ability to access capital
markets on favourable terms or at all; cost of debt and equity
capital; potential changes in the Enbridge share price which may
negatively impact the value of consideration offered to the
shareholders of the Company; expected supply and demand for crude
oil, natural gas, natural gas liquids and renewable energy; prices
of crude oil, natural gas, natural gas liquids and renewable
energy; economic and competitive conditions; expected exchange
rates; inflation; interest rates; tax rates and changes; completion
of growth projects; anticipated in-service dates; capital project
funding; success of hedging activities; the ability of management
of the Company, its subsidiaries and affiliates to execute key
priorities, including those in connection with the proposed
transactions; customer, shareholder, regulatory and other
stakeholder approvals and support; regulatory and legislative
decisions and actions; and public opinion. We caution that the
foregoing list of factors is not exhaustive. Additional information
about these and other assumptions, risks and uncertainties can be
found in applicable filings with Canadian securities regulators,
including any management information circular to be filed in
connection with the proposed transactions. Due to the
interdependencies and correlation of these factors, as well as
other factors, the impact of any one assumption, risk or
uncertainty on FLI cannot be determined with certainty.
Except to the extent required by law, we assume no obligation
to publicly update or revise any FLI, whether as a result of new
information, future events or otherwise. All FLI in this news
release is expressly qualified in its entirety by these cautionary
statements.
ABOUT ENBRIDGE INCOME FUND HOLDINGS
INC.
Enbridge Income Fund Holdings Inc. is a publicly
traded corporation. The Company, through its investment in Enbridge
Income Fund indirectly holds high quality, low-risk energy
infrastructure assets. The Fund's assets consist of a
portfolio of Canadian liquids transportation and storage
businesses, including the Canadian Mainline, the Regional Oil Sands
System, the Canadian segment of the Southern Lights Pipeline, Class
A units entitling the holder to receive defined cash flows from the
US segment of the Southern Lights Pipeline, and a 50 percent
interest in the Alliance Pipeline, which transports natural gas
from Canada to the U.S., and
interests in more than 1,400 MW of renewable and alternative power
generation assets. Enbridge Income Fund Holdings Inc. trades on the
Toronto Stock Exchange under the symbol ENF; information about the
Company is available on the Company's website at
www.enbridgeincomefund.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Media
|
Investor
Relations
|
|
Nafeesa
Kassam
|
Toll Free: (888)
992-0997
|
Toll Free: (800)
481-2804
|
E-mail:
media@enbridge.com
|
E-mail:
investor.relations@enbridge.com
|
SOURCE Enbridge Income Fund Holdings Inc.