TC Energy’s C$1 bln pipeline stake sale to Canada’s Indigenous communities delayed – Reuters

September 10, 2024

Sept 10 (Reuters) – TC Energy’s (TRP.TO), opens new tab C$1 billion ($736.92 million) deal to sell a minority stake in its Canadian natural gas pipeline system to a consortium of Indigenous communities has been delayed due to a transaction structuring issue, the company said on Tuesday.

The Canadian pipeline operator had said earlier this year it would sell a 5.34% stake in the NGTL system and Foothills assets in western Canada to an Indigenous-owned investment partnership, in a move to reduce its debt and finance new investments.

The widely anticipated deal was a key step to achieving the company’s C$3 billion asset sale target for 2024.

Read More: https://www.reuters.com/business/energy/tc-energys-pipeline-stake-sale-delayed-2024-09-10/