TC Energy sells Portland Natural Gas Transmission System to BlackRock and Morgan Stanley Infrastructure Partners
Type: Sale · Technology: Oil Gas, Other · Country: Canada · Capacity: 475 MW · Value: $1.14B · Announced: 2024-03-04
TC Energy Corporation and Énergir L.P.'s subsidiary Northern New England Investment Company, Inc. have entered into a purchase and sale agreement to sell the Portland Natural Gas Transmission System (PNGTS) to a fund managed by BlackRock's Diversified Infrastructure business and investment funds managed by Morgan Stanley Infrastructure Partners for a gross purchase price of US$1.14 billion (including assumption of US$250 million of PNGTS Senior Notes).
Counterparties
- Morgan Stanley Infrastructure Partners (investment funds managed by) (Buyer)
- Northern New England Investment Company, Inc. (a subsidiary of Énergir L.P.) (Seller)
- TC Energy Corporation (Seller)
- BlackRock, Inc. (through a fund managed by its Diversified Infrastructure business) (Buyer)
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