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

Brookfield, news, feb. 02, 2021 (globe newswire) -- brookfield infrastructure (nyse: bip; tsx: bip.un) today announced that it has signed definitive agreements to sell 100% of its north american district energy business, enwave. the business will be divested through two separate transactions for total consideration of $4.1 billion on an enterprise value basis. ontario teachers' pension plan board and ifm investors have agreed to acquire 100% of enwave's canadian business. concurrently, qic and ullico have agreed to acquire 100% of enwave's u.s. business. net proceeds to bip are expected to be approximately $950 million.
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