On May 1, 2008, Spectra Energy Income Fund (the Fund), a TSX listed income trust operating in the mid-stream natural gas sector in Alberta and BC, completed the previously announced related party transaction by which Spectra Energy Corp, through its wholly owned subsidiary Westcoast Energy Inc., would take the Fund private.
With the completion of the transaction, the Fund's unitholders received $11.25 per unit of the Fund, in cash, effected either through a sale or a redemption, as elected by each unitholder. The total acquisition price was approximately $274 million.
McCarthy Tétrault LLP acted as the legal advisor to Spectra Energy. Bill Maslechko of Burnet, Duckworth & Palmer LLP acted as the legal advisor to the Independent Committee of the Fund in connection with the transaction.
With the completion of the transaction, the Fund's unitholders received $11.25 per unit of the Fund, in cash, effected either through a sale or a redemption, as elected by each unitholder. The total acquisition price was approximately $274 million.
McCarthy Tétrault LLP acted as the legal advisor to Spectra Energy. Bill Maslechko of Burnet, Duckworth & Palmer LLP acted as the legal advisor to the Independent Committee of the Fund in connection with the transaction.
Lawyer(s)
William S. Maslechko
Firm(s)
McCarthy Tétrault LLP
Burnet, Duckworth & Palmer LLP