Brookfield Infrastructure completes acquisition of Enercare
October 16, 2018 – Toronto-headquartered asset management firm Brookfield Infrastructure has completed its previously announced plan to acquire all issued and outstanding common shares of Enercare, which is based in Markham, Ont., and provides commercial and residential energy services and products in Canada and the U.S.
October 17, 2018 By Peter Saunders
Pursuant to the terms of an arrangement under section 192 of the Canada Business Corporations Act, Brookfield and its institutional partners are paying $29 per share, for a total of $4.3 billion. Enercare’s common shares will be delisted from the Toronto Stock Exchange (TSE) at the close of business today (Oct. 17, 2018).
While Enercare will cease to issue reports under applicable Canadian securities laws, its subsidiary—Enercare Solutions, which provides furnaces, water heaters and air conditioners—will continue to be a reporting issuer in connection with its outstanding public debt.
Full details regarding the arrangement can be found under Enercare’s profile with Canada’s System for Electronic Document Analysis and Retrieval (SEDAR).
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