Enbridge closes sale of additional AltaGas trust units
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE U.S./
CALGARY--(CCNMatthews - Aug. 17) - AltaGas Income Trust ("AltaGas") today
announced that Enbridge has completed the sale of an additional 1,747,500
Trust units of AltaGas Income Trust ("AltaGas") at a price of $19.75 per unit
pursuant to the exercise of the over-allotment option granted to a group of
Canadian underwriters. Including Enbridge's sale of 11,650,000 Trust units of
AltaGas that closed on August 10, 2004 Enbridge's interest in AltaGas has
been reduced from approximately 36 percent to approximately 9 percent.
AltaGas moves energy from its source to the end user, adding value through
the process. The Trust has consolidated assets totaling almost $950 million
and a market capitalization of approximately $1 billion. Our steadily
expanding asset base today includes natural gas gathering and processing
facilities, interests in ethane and natural gas liquids extraction plants,
and transmission pipelines. AltaGas distributes natural gas to Alberta
customers through AltaGas Utilities Inc., to customers in the Northwest
Territories through the Ikhil Gas Project and distributes gas in Nova Scotia
through its interest in Heritage Gas Limited. The Trust provides energy
services to customers, including marketing of natural gas and natural gas
liquids and sale of power from its power purchase based arrangements.
AltaGas' Trust units are listed on the Toronto Stock Exchange under the
symbol ALA.UN. The Trust is included in the S&P/TSX Capped Income Trust Index
and the S&P/TSX Capped Energy Trust Index.
This news release does not constitute an offer to sell or a solicitation of
an offer to buy the Trust Units in any jurisdiction. The Trust Units offered
have not been, and will not be, registered under the United States Securities
Act of 1933, as amended, and may not be offered or sold within the United
States of America.
When used in this news release, the words "anticipate," "estimate," and
similar expressions are intended to identify forward looking statements. Such
statements are subject to certain risks, uncertainties and assumptions that
could cause actual results to differ materially from those contemplated in
the forward looking statements. These risks and uncertainties include
operating performance, regulatory and environmental issues, weather and
economic conditions, competition and financing availability. For additional
information on these and other factors see the reports filed by AltaGas with
Canadian securities regulators. AltaGas disclaims any intention or obligation
to update or revise any forward looking information whether as a result of
new information or future event.