Brookfield Infrastructure Partners has made a C$4.3 billion ($3.3 billion) friendly takeover offer for utility firm Enercare.
Enercare’s board unanimously supports the Brookfield Infrastructure offer.
“We see attractive opportunities to grow the business and continue to create value, leveraging Brookfield’s significant presence in the utility, home building and multi-residential sectors across Canada and the United States,” said Sam Pollock, Brookfield Infrastructure chief executive, in a statement.
The acquisition is part of Brookfield’s efforts of expanding across Canada.
Enercare, based in Markham, Ontario, provides electricity, water and gas for condominiums and apartments as well as rental water heaters, furnaces and air conditioners.
Enercare is Brookfield Infrastructure’s second multi-billion deal in a month, and follows the announcement that it will buy a collection of natural gas processing plants and gathering pipelines for C$4.31 billion ($3.3 billion) from Calgary-based Enbridge.
