Enbridge announced that the sale of its 24.7% stake in the OCENSA pipeline to Ecopetrol, the Colombian national oil company, has closed. Net proceeds from the sale are approximately US $400 million and Enbridge anticipates it will receive after-tax proceeds of approximately CDN$535 million.
Proceeds from the sale of this interest will be applied toward funding Enbridge's extensive list of expansion projects in its core North American crude oil pipeline business.
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