TC Energy Looking to Sell Share in Millennium, PNGTS, Other Pipes

TransCanada Corporation, which renamed itself TC Energy in 2019, bought out and 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. TC completed the sale earlier this month (see TC Energy Completes Sale of 40% Interest in Columbia Pipe to GIP). Looks like TC isn't done yet with selling pieces of assets. Secret sources whispering to Bloomberg say that TC wants to sell minority (or all) interests in four pipeline systems, three of which move Marcellus/Utica molecules.

---

To view this content, log into your member account. (Not a member? Join Today!)