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Goodmans Deals & Cases

This section contains brief summaries of selected significant cases and transactions.  You'll also find representative lists  - by year - of major transactions and cases where Goodmans' involvement is a matter of public record or where inclusion in the list has been authorized by our clients.

Brookfield Completes Acquisition of Enwave Energy Corporation from Borealis Infrastructure and City of Toronto

2012

Areas Banking and Finance Law, Commercial Real Estate, Competition, Antitrust and Foreign Investment, Corporate and Commercial, Employment and Labour, Energy Law, Environmental Law, Litigation, Municipal, Planning and Property Tax , Private Equity, Tax

Summary

Goodmans represented a partnership sponsored by Brookfield Asset Management Inc., a global alternative asset manager with over $150 billion in assets under management in connection with the acquisition of the City of Toronto’s 43% interest and Borealis Infrastructure’s 57% interest in Enwave Energy Corporation on October 31, 2012.  The sale price represents an enterprise value for Enwave of approximately $480 million and resulted in proceeds of approximately $167 million to the City of Toronto and approximately $222 million to Borealis Infrastructure, the infrastructure investment arm of the OMERS pension plan.

Enwave was restructured from a legislated co-operative of MUSH sector entities to a for-profit share capital corporation in 1999, owned by the City of Toronto and Borealis Infrastructure.  The restructuring enabled Enwave to finance its Toronto-based deep lake water cooling project. Today Enwave is a fully integrated, sustainable energy services provider with district energy operations in Toronto and Windsor.