HOUSTON – Bracewell & Giuliani LLP represented the special committee of the Board of Directors of Enbridge Energy Management, L.L.C. in the acquisition by Enbridge Energy Partners, L.P. (EEP) of the remaining 66.67% interest in the U.S. segment of the Alberta Clipper Pipeline owned by Enbridge Energy Company, Inc. (EECI), EEP’s general partner. In connection with the acquisition, EEP issued to EECI Class E units with an aggregate notional value of $694 million and repaid $306 million in indebtedness owed to EECI.
Enbridge Energy Partners, L.P. is a master limited partnership that owns and operates a diversified portfolio of crude oil and, through its interests in Midcoast Energy Partners, L.P., natural gas transportation systems in the United States.
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Bracewell attorneys working on the transaction included:
Partners: William S. Anderson and Gregory M. Bopp
Associates: Harrison F. Bolling and Charlotte E. Keenan