TC Energy Completes Sale of 40% Interest in Columbia Pipe to GIP

TransCanada Corporation, which renamed itself TC Energy in 2019, bought out/merged in U.S.-based Columbia Pipeline Group (now Columbia Gas Transmission) in 2016 (see TransCanada and Columbia Pipeline Tie the Knot Today). TransCanada paid $13 billion for Columbia, including the assumption of $2.8 billion of debt. In July, TC Energy announced it was selling a 40% stake in Columbia for US$3.9 billion (C$5.2 billion) to investment firm Global Infrastructure Partners (see TC Energy Sells 40% Interest in Columbia Pipeline to Investor GIP). TC will retain majority ownership and operate the Columbia assets, which include 11,899 miles of pipeline extending from New York state to the Midwest and Southeast, along with dozens of storage fields in multiple states. As of yesterday, the deal is done and TC has a new partner.

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