Enbridge (ENB) said Thursday that it has made an agreement under which the Stonlasec8 Indigenous Alliance, which represents 36 First Nations in Canada's British Columbia, will invest 715 million Canadian dollars ($511.2 million) in Enbridge's Westcoast natural gas pipeline system.
The deal will give the First Nations partnership a 12.5% stake in the pipeline system, the company said.
The First Nations partnership has secured a CA$400 million loan guarantee from Canada Indigenous Loan Guarantee Corporation to finance the deal, the company said.
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