CALGARY and HOUSTON, Dec. 20,
2018 /CNW/ - Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge), on behalf of itself and certain of its wholly owned U.S.
subsidiaries, Enbridge Energy Partners, L.P. (NYSE: EEP) (EEP) and Enbridge Energy Management, L.L.C. (NYSE: EEQ) (EEQ), today
announced that they have completed the previously announced respective merger (the EEP Merger) of EEP with a wholly owned
subsidiary of Enbridge, and the merger (the EEQ Merger) of EEQ with a wholly owned subsidiary of Enbridge, each pursuant to an
Agreement and Plan of Merger dated as of September 17, 2018 (the EEP Merger Agreement and the EEQ
Merger Agreement, respectively). The EEP Merger resulted in Enbridge (through a wholly owned subsidiary of Enbridge) acquiring
all of the outstanding public Class A common units of EEP, and EEP becoming an indirect, wholly owned subsidiary of Enbridge, and
the EEQ Merger resulted in Enbridge (through a wholly owned subsidiary of Enbridge) acquiring all of the outstanding public
Listed Shares of EEQ, and EEQ becoming a direct, wholly owned subsidiary of Enbridge. The EEP Merger and EEQ Merger were approved
by EEP unitholders and EEQ shareholders, respectively, at special meetings held on December 17,
2018.
Effective today, EEP unitholders of record as of the close of business on November 5, 2018
(other than Enbridge and its subsidiaries) are entitled to receive from Enbridge pursuant to the EEP Merger Agreement, for each
EEP Class A common unit held, 0.3350 common shares of Enbridge, and EEQ shareholders of record as of the close of business on
November 5, 2018 (other than Enbridge and its subsidiaries) are entitled to receive from Enbridge
pursuant to the EEQ Merger Agreement, for each EEQ Listed Share held, 0.3350 common shares of Enbridge.
Also effective today, the EEP Class A common units and the EEQ Listed Shares will be suspended from trading on, and delisted
from, the New York Stock Exchange (NYSE). Common shares of Enbridge will continue to trade on both the NYSE and the Toronto Stock
Exchange under the symbol "ENB".
Forward Looking Statements
Certain information provided in this news release constitutes forward-looking statements. The words "anticipate",
"expect", "project" and similar words and expressions are intended to identify such forward-looking statements. All statements
other than statements of historical fact may constitute forward-looking statements. Forward-looking information or statements
included or incorporated by reference in this document include, but are not limited to, statements with respect to the suspension
of the EEP Class A common units and the EEQ Listed Shares from trading on, and delisted from, the NYSE. Although Enbridge, EEP
and EEQ believe these statements are based on information and assumptions which are current, reasonable and complete, these
statements are not guarantees of future performance and readers are cautioned against placing undue reliance on forward looking
statements. By their nature, these statements involve a variety of assumptions, risks and uncertainties which may cause actual
results to differ from those expressed or implied by such statements. Material assumptions include assumptions about the
satisfaction of all conditions to the suspension from trading and delisting of the EEP Class A common units and the EEQ Listed
Shares. While Enbridge, EEP and EEQ make these forward-looking statements in good faith, should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those
expected. Except as may be required by applicable securities laws, Enbridge, EEP and EEQ assume no obligation to publicly update
or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or
otherwise.
About Enbridge Inc.
Enbridge Inc. is North America's premier energy infrastructure company with
strategic business platforms that include an extensive network of crude oil, liquids and natural gas pipelines, regulated natural
gas distribution utilities and renewable power generation. The Company safely delivers an average of 2.9 million barrels of crude
oil each day through its Mainline and Express Pipeline; accounts for approximately 62% of U.S.-bound Canadian crude oil exports;
and moves approximately 22% of all natural gas consumed in the U.S., serving key supply basins and demand markets. The Company's
regulated utilities serve approximately 3.7 million retail customers in Ontario, Quebec, and New Brunswick. Enbridge also has interests in more than 1,700
MW of net renewable generating capacity in North America and Europe. The Company has ranked on the Global 100 Most Sustainable Corporations index for the past nine
years; its common shares trade on the Toronto and New York
stock exchanges under the symbol ENB.
Life takes energy and Enbridge exists to fuel people's quality of life. For more information, visit www.enbridge.com.
About Enbridge Energy Partners, L.P.
Enbridge Energy Partners, L.P. owns and operates a diversified portfolio of crude oil transportation systems in
the United States. Its principal crude oil system is the largest pipeline transporter of growing
oil production from western Canada and the North Dakota Bakken formation. The system's
deliveries to refining centers and connected carriers in the United States account for
approximately 25 percent of total U.S. oil imports. Information about Enbridge Energy Partners, L.P. is available on its website
at www.enbridgepartners.com.
About Enbridge Energy Management, L.L.C.
Enbridge Energy Management, L.L.C. manages the business and affairs of Enbridge Energy Partners, L.P., and its sole
asset is an approximate 21 percent limited partner interest in Enbridge Energy Partners, L.P. Enbridge Energy Company, Inc., an
indirect wholly owned subsidiary of Enbridge Inc. of Calgary, Alberta, Canada (NYSE: ENB) (TSX:
ENB) is the general partner of Enbridge Energy Partners, L.P. and holds an approximate 35 percent interest in Enbridge Energy
Partners, L.P. Enbridge Energy Management, L.L.C. is the delegate of the general partner of Enbridge Energy Partners,
L.P.
FOR FURTHER INFORMATION PLEASE CONTACT:
Media
Michael Barnes
Toll Free: (888) 992-0997
Email: media@enbridge.com
Investment Community
Toll Free: (800) 481-2804
Email: investor.relations@enbridge.com
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SOURCE Enbridge Inc.
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