Enbridge Inc. and 23 First Nation and Métis communities reached an agreement allowing the communities to purchase a collective 11.57% non-operating stake in seven Enbridge-operated pipelines in northern Alberta's Athabasca region for CAD$1.5 billion (US$1.12 billion). The investment will be managed by a newly formed entity, Athabasca Indigenous Investments (Aii), marking the most substantial energy-related Indigenous economic partnership deal in North America. Al Monaco, CEO of Enbridge, expressed enthusiasm about the collaboration, emphasizing its alignment with Enbridge's Indigenous Reconciliation Action Plan (IRAP). The deal encompasses pipelines such as Athabasca, Waupisoo, and Woodland. These assets benefit from long-term resources and contracts, ensuring consistent cash flows. Justin Bourque, Aii's President, and Chief Greg Desjarlais of Frog Lake First Nation voiced pride in the partnership, highlighting its long-term benefits for their communities. Stan Delorme, Chairperson of the Buffalo Lake Métis Settlement, noted the significance of the collaboration for the Métis people of Alberta. The transaction's completion is expected in the upcoming month. Enbridge's financial and legal advisors were BMO Capital Markets and Torys LLP, respectively. Meanwhile, Athabasca Indigenous Investments enlisted RBC Capital Markets and Boughton Law for financial and legal counsel.