Brookfield infrastructure completes sale of north american district energy business for $4.1 billion

Brookfield, news, july 16, 2021 (globe newswire) -- brookfield infrastructure (nyse: bip; tsx: bip.un) today announces that it has completed the sale of 100% of its north american district energy business, enwave. the business has been divested through two separate transactions for total consideration of $4.1 billion on an enterprise value basis. enwave's canadian business was acquired by ontario teachers' pension plan board and ifm investors on june 7, 2021, and enwave's u.s. business was acquired by qic and ullico on july 16, 2021. net proceeds to bip are approximately $1 billion. we have earned an irr of over 30% on our investment and a multiple of invested capital of over six times.
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