36 First Nations to acquire 12.5% equity in Enbridge’s Westcoast Pipeline System for approximately $715 million

Congratulations to our client, Stonlasec8 Indigenous Alliance Limited Partnership (Stonlasec8), which has entered into an investment agreement to acquire an equity interest of 12.5% in Enbridge’s Westcoast natural gas pipeline system for approximately $715 million.  Stonlasec8 is a partnership of 36 First Nations in British Columbia.  This historic transaction will include a $400 million loan guarantee from the Government of Canada’s new Indigenous Loan Guarantee Program; which will be the first Indigenous loan guarantee under the new program.

The legal team representing Stonlasec8 includes Philip Barton, Donya Vahidi, Karim Lalani, Jimmy Burg, Susan Do and Claire Gibson. Closing is expected to occur at the end of the second quarter of 2025.

The media release by Stonlasec8 is located here:

https://www.globenewswire.com/news-release/2025/05/15/3082006/0/en/B-C-First-Nations-to-acquire-an-equity-interest-in-Enbridge-s-Westcoast-Pipeline-System.html