Cassels Brock Represents the City of Toronto in the Joint Sale of Enwave Energy to Brookfield

Published: 11/02/2012

By Erik Goldsilver

On October 31, 2012, the City of Toronto, together with Borealis Infrastructure (the infrastructure investment arm of the OMERS pension plan) completed the sale of Enwave Energy Corporation to a corporation indirectly owned by a partnership sponsored by Brookfield Asset Management.

The sale price represents an enterprise value for Enwave of approximately $480 million, with proceeds of approximately $167 million to the City of Toronto and approximately $222 million to Borealis.

Cassels Brock acted as counsel to the City of Toronto with a team that included Erik Goldsilver and Tali Eliav (corporate).