Enbridge Energy Partners LP said it would sell a 12.6 percent interest in its natural gas midstream business to partner Midcoast Energy Partners LP for $350 million. Enbridge's interest in Midcoast Operating LP will fall to 48.4 percent after the sale, the company said.Enbridge said it would use the proceeds to help fund its pipeline expansion program.Midcoast Energy said in a separate statement that it would finance the deal with debt.
Enbridge Energy Partners, L.P. (the Partnership) owns and operates crude oil and liquid petroleum transportation and storage assets, and natural gas gathering, treating, processing, transportation and marketing assets in the United States. Shares of EEP fell by 1.81% or $-0.57/share to $30.94. In the past year, the shares have traded as low as $26.00 and as high as $33.49. On average, 740352 shares of EEP exchange hands on a given day and today's volume is recorded at 625537.
Minotaur Exploration Limited is an Australia-based company. Shares of MEP fell by 0.29% or $-0.06/share to $20.90. In the past year, the shares have traded as low as $16.96 and as high as $22.93. On average, 126764 shares of MEP exchange hands on a given day and today's volume is recorded at 41312.
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