OTTAWA (dpa-AFX) - Algonquin Power & Utilities Corp. (AQN, AQN.TO) said that its subsidiary Liberty Utilities (Canada) LP has entered into an agreement to purchase Enbridge Gas New Brunswick Limited Partnership, a subsidiary of Enbridge Inc. (ENB.TO), along with its general partner for C$331 million, subject to certain customary adjustments.
New Brunswick Gas is a regulated utility that provides natural gas to about 12,000 customers in 12 communities across New Brunswick, and operates about 800 km of natural gas distribution pipeline.
Closing of the Transaction is expected to occur within the first half of 2019 and remains subject to customary closing conditions, including the receipt of regulatory and government approvals.
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