TC Energy's Pipeline Deal With Indigenous Communities Hits Snag
TC Energy(TRP) ZACKS·2024-09-14 03:11
TC Energy Corporation (TRP) announced that it has recently encountered an obstacle that caused a delay in its deal to sell a minority stake in the NGTL System and the Foothills Pipeline assets to an indigenous-owned investment partnership in Canada. The deal, valued at C$1 billion, has been delayed owing to a transaction structuring issue. The deal, aimed at reducing TC Energy's debt, is a key part of the company's strategy to achieve its C$3 billion asset sale target for 2024. The deal, when completed, is ...