July 16, 2021

Brookfield Infrastructure's Sale of North American District Energy Business for $4.1 Billion

Goodmans LLP acted for Brookfield Infrastructure in connection with the sale of 100% of its North American district energy business, Enwave. The business has been divested through two separate transactions totalling US$4.1 billion.

The Ontario Teachers' Pension Plan and Australian firm IFM Investors have agreed to buy Enwave's Canadian business. Enwave's U.S. business is being sold to Australian investment manager QIC and U.S. firm Ullico. Net proceeds to Brookfield Infrastructure are expected to be US$950 million.

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