{"id":514229,"date":"2021-07-16T17:37:43","date_gmt":"2021-07-16T21:37:43","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion\/"},"modified":"2021-07-16T17:37:43","modified_gmt":"2021-07-16T21:37:43","slug":"brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion\/","title":{"rendered":"Brookfield Infrastructure Completes Sale of North American District Energy Business for $4.1 Billion"},"content":{"rendered":"
\n

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\u2019s Canadian business was acquired by Ontario Teachers\u2019 Pension Plan Board and IFM Investors on June 7, 2021, and Enwave\u2019s 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.<\/p>\n

Brookfield Infrastructure made its first district energy investment in 2012 and subsequently developed the business into the largest district energy system in North America. As a result of the company\u2019s asset management initiatives, the business generates stable and predictable cash flows, has a unique and highly attractive investment profile, and is a global leader in sustainability.<\/p>\n

With the completion of this transaction, Brookfield Infrastructure\u2019s corporate liquidity totals approximately $4 billion, which will be used towards growth initiatives.<\/p>\n

Scotiabank and TD Securities acted as joint financial advisors to Brookfield Infrastructure and Goodmans LLP and Mayer Brown LLP acted as legal advisors.<\/p>\n

\n Brookfield Infrastructure<\/strong> is a leading global infrastructure company that owns and operates high-quality, long-life assets in the utilities, transport, midstream and data sectors across North and South America, Asia Pacific and Europe. We are focused on assets that have contracted and regulated revenues that generate predictable and stable cash flows. Investors can access its portfolio either through Brookfield Infrastructure Partners L.P. (NYSE: BIP; TSX: BIP.UN), a Bermuda-based limited partnership, or Brookfield Infrastructure Corporation (NYSE, TSX: BIPC), a Canadian corporation. Further information is available at www.brookfield.com\/infrastructure<\/a>.<\/p>\n

Brookfield Infrastructure Partners is the flagship listed infrastructure company of Brookfield Asset Management, a global alternative asset manager with over US$600 billion of assets under management. For more information, go to www.brookfield.com<\/u><\/a>.<\/p>\n

For more information, please contact:<\/p>\n\n\n
\n Media:<\/strong>
\n
Claire Holland
Senior Vice President, Communications
Tel: (416) 369-8236
Email: claire.holland@brookfield.com<\/a><\/td>\n		\n Investors:<\/strong>
\n
Kate White
Manager, Investor Relations
Tel: (416) 956-5183
Email: kate.white@brookfield.com<\/a><\/td>\n<\/tr>\n<\/table>\n

\u00a0<\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

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\u2019s Canadian business was acquired by Ontario Teachers\u2019 Pension Plan Board and IFM Investors on June 7, 2021, and Enwave\u2019s 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. Brookfield Infrastructure made its first district energy … <\/p>\n

Continue reading “Brookfield Infrastructure Completes Sale of North American District Energy Business for $4.1 Billion”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-514229","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nBrookfield Infrastructure Completes Sale of North American District Energy Business for $4.1 Billion - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Brookfield Infrastructure Completes Sale of North American District Energy Business for $4.1 Billion - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"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\u2019s Canadian business was acquired by Ontario Teachers\u2019 Pension Plan Board and IFM Investors on June 7, 2021, and Enwave\u2019s 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. Brookfield Infrastructure made its first district energy … Continue reading "Brookfield Infrastructure Completes Sale of North American District Energy Business for $4.1 Billion"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-16T21:37:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI4MjA2NCM0MzAxNTk3IzIwOTI4NDA=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Brookfield Infrastructure Completes Sale of North American District Energy Business for $4.1 Billion\",\"datePublished\":\"2021-07-16T21:37:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion\\\/\"},\"wordCount\":372,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODI4MjA2NCM0MzAxNTk3IzIwOTI4NDA=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion\\\/\",\"name\":\"Brookfield Infrastructure Completes Sale of North American District Energy Business for $4.1 Billion - Market Newsdesk\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODI4MjA2NCM0MzAxNTk3IzIwOTI4NDA=\",\"datePublished\":\"2021-07-16T21:37:43+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODI4MjA2NCM0MzAxNTk3IzIwOTI4NDA=\",\"contentUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODI4MjA2NCM0MzAxNTk3IzIwOTI4NDA=\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Brookfield Infrastructure Completes Sale of North American District Energy Business for $4.1 Billion\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\",\"name\":\"Market Newsdesk\",\"description\":\"Latest Business News in Real Time\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\",\"name\":\"Newsdesk\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"caption\":\"Newsdesk\"},\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/author\\\/newsdesk\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Brookfield Infrastructure Completes Sale of North American District Energy Business for $4.1 Billion - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion\/","og_locale":"en_US","og_type":"article","og_title":"Brookfield Infrastructure Completes Sale of North American District Energy Business for $4.1 Billion - Market Newsdesk","og_description":"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\u2019s Canadian business was acquired by Ontario Teachers\u2019 Pension Plan Board and IFM Investors on June 7, 2021, and Enwave\u2019s 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. Brookfield Infrastructure made its first district energy … Continue reading \"Brookfield Infrastructure Completes Sale of North American District Energy Business for $4.1 Billion\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion\/","og_site_name":"Market Newsdesk","article_published_time":"2021-07-16T21:37:43+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI4MjA2NCM0MzAxNTk3IzIwOTI4NDA=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Brookfield Infrastructure Completes Sale of North American District Energy Business for $4.1 Billion","datePublished":"2021-07-16T21:37:43+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion\/"},"wordCount":372,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI4MjA2NCM0MzAxNTk3IzIwOTI4NDA=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion\/","name":"Brookfield Infrastructure Completes Sale of North American District Energy Business for $4.1 Billion - Market Newsdesk","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion\/#primaryimage"},"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI4MjA2NCM0MzAxNTk3IzIwOTI4NDA=","datePublished":"2021-07-16T21:37:43+00:00","author":{"@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"breadcrumb":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion\/#primaryimage","url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI4MjA2NCM0MzAxNTk3IzIwOTI4NDA=","contentUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI4MjA2NCM0MzAxNTk3IzIwOTI4NDA="},{"@type":"BreadcrumbList","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-infrastructure-completes-sale-of-north-american-district-energy-business-for-4-1-billion\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.marketnewsdesk.com\/"},{"@type":"ListItem","position":2,"name":"Brookfield Infrastructure Completes Sale of North American District Energy Business for $4.1 Billion"}]},{"@type":"WebSite","@id":"https:\/\/www.marketnewsdesk.com\/#website","url":"https:\/\/www.marketnewsdesk.com\/","name":"Market Newsdesk","description":"Latest Business News in Real Time","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.marketnewsdesk.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979","name":"Newsdesk","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","caption":"Newsdesk"},"url":"https:\/\/www.marketnewsdesk.com\/index.php\/author\/newsdesk\/"}]}},"_links":{"self":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/514229","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/comments?post=514229"}],"version-history":[{"count":0,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/514229\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/media?parent=514229"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/categories?post=514229"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/tags?post=514229"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}