Enbridge Inc. said late Wednesday it planned to sell its stakes in the Alliance Pipeline and the Aux Sable natural gas liquids processing facility in the United States to Pembina Pipeline Corp. for more than US$2 billion.

The deal would generate proceeds to help fund Enbridge’s efforts to acquire U.S.-based gas utilities.

The Calgary-based midstream giant agreed to sell its 50% interest in Alliance as well as its 42.7% interest in Aux Sable for C$3.1 billion ($2.3 billion).

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