Brookfield Infrastructure (BIP, BIP.UN.TO) announced Tuesday that it has signed definitive agreements to sell 100% of its North American district energy business, Enwave. The business will be divested through two separate transactions for total consideration of $4.1 billion on an enterprise value basis.
Ontario Teachers' Pension Plan Board and IFM Investors have agreed to acquire 100% of Enwave's Canadian business. Concurrently, QIC and Ullico have agreed to acquire 100% of Enwave's U.S. business. Net proceeds to Brookfield are expected to be approximately $950 million.
This transaction further demonstrates continued strong execution on Brookfield's capital recycling plans, with the proceeds from the sale expected to accretively fund a large component of its annual growth investment target of $2 billion. Each transaction is subject to customary closing conditions and closing is expected to occur in mid-2021.
For comments and feedback contact: editorial@rttnews.com
Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.