Spectra Energy Income Fund completes transaction to be taken private
Date Closed
May 1, 2008
Lead Office
Calgary
Value
274.00 Million CAD
On May 1, 2008, Spectra Energy Income Fund, a TSX listed income trust operating in the mid-stream natural gas sector in Alberta and B.C., completed the previously announced related party transaction by which Spectra Energy Corp, through its wholly-owned subsidiary Westcoast Energy Inc., would take the Fund private. With the completion of the transaction, the Fund's unitholders received C$11.25 per unit of the Fund, in cash, effected either through a sale or a redemption, as elected by each unitholder. The total acquisition price was approximately C$274 million.
McCarthy Tétrault LLP acted as the legal advisor to Spectra Energy during the transaction.