Enbridge Income Fund Holdings Inc. (the company) and Enbridge Income Fund (the fund) closed the acquisition of Enbridge Inc.'s Canadian Liquids Pipelines business, the company said Sept. 1.

Enbridge Pipelines Inc. (EPI) and Enbridge Pipelines Athabasca Inc. (EPA) comprised the business. An indirect subsidiary of the fund acquired the business for CA$30.4 billion and incentive/performance rights, the company said. Certain renewable energy assets were included.

The company’s shareholders approved the transaction at an Aug. 20 special meeting. The transaction provides a source of long-term growth based on CA$15 billion of low-risk, commercially secured growth projects associated with the acquired assets. Of that amount, CA$3 billion are already in service and the balance is scheduled to be in service by 2018.

The Canadian Liquids Pipelines business consists of the Canadian Mainline system held in EPI and the regional oil sands system held in EPA, according to a June 19 press release.

The Canadian Mainline system has several large-diameter crude oil, NGL and refined products pipelines receiving hydrocarbon liquids at, and making deliveries to, various locations in western Canada and connecting to the U.S. Mainline system owned by Enbridge Energy Partners LP near Gretna, Manitoba.

The western Canada segment includes the Canadian segment of the Alberta Clipper Pipeline; the Canadian segment of the Line 3 replacement project; the Edmonton-to-Hardisty expansion program; and the Canadian Mainline system terminal flexibility and connectivity program. There are also several pipelines in eastern Canada, the press release said.

The regional oil sands system includes a number of trunk line and lateral pipelines collecting synthetic crude oil and diluted bitumen from eight different oil sands for delivery to the hubs at Edmonton and Hardisty.

This system also includes Enbridge's 70% interest in the Norlite diluent pipeline currently under development. The regional oil sands system growth capital program also includes the Norealis Pipeline, Surmont Phase 2 expansion, Sunday Creek expansion, Woodland Pipeline extension, regional oil sands optimization project, AOC Hangingstone lateral and Jacos lateral.