RE:RE:Is a spinoff of oil pipelines ala TRP's recent move coming?ENB generates ~57% of EBITDA from liquids pipelines and that drops to ~50% after the new acquisitions (not sure where you got the 75%). The BMO analyst another poster quoted actually refers to the possibility that ENB could sell a minority stake in the oil mainline to raise part of the funds needed for the utility asset purchases from D.
ENB's oil transport/storage/export infrastructure is a cash-generating beast, and I would be disappointed if they do decide to sell a stake in it. It's conceivable too that they go one step further and unload the entire set of liquids-focused assets. Maybe they can IPO a stake to raise the needed cash and issue the balance as shares to existing shareholders?
>>>sub-$4B ATM (DRIP and asset sales could fill the gap). On asset sales, we do not believe there are any sacred cows; examples of recycling candidates could include a minority interest of the Mainline