Enbridge Completes Building Services Unit Sale To Centrica

Enbridge, a Canadian pipeline and utility owner, has said that it has completed its C$1 billion ($636 million) sale of its building services business to the Centrica, the UK's biggest natural gas supplier. The sale will increase Enbridge's profit by about C$210 million this quarter, the company said in a statement. Enbridge plans to use the money for acquisitions and to pay debt. Enbridge's energy-services unit provides heating and air-conditioner services and rents water heaters to about 1.3 million customers in Ontario, British Columbia and Philadelphia. Centrica already has more than 1.9 million customers for its energy services business in North America. The Calgary based Enbridge, which owns the world's longest liquid petroleum pipeline, sold the unit to concentrate on its pipeline businesses. The company said it plans to spend C$5 billion in the next five years to increase its network of pipelines in Canada, the US and Europe.

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