TC Energy signs equity interest purchase agreement to sell a 5.34% stake in the NGTL System and Foothills Pipeline assets
Type: Sale · Technology: Oil Gas, Other · Country: Canada · Value: $1B · Announced: 2024-07-30
TC Energy entered an equity interest purchase agreement for a minority 5.34% stake in its NGTL System and Foothills Pipeline assets to an Indigenous-owned investment partnership for a gross purchase price of $1 billion, backed by a $1 billion loan guarantee from the Alberta Indigenous Opportunities Corporation and implying an enterprise value of approximately $1.65 billion.
Counterparties
- TC Energy Corporation (Seller)
- Alberta Indigenous Opportunities Corporation (Lender)
- Indigenous-owned investment partnership (representing up to 72 Indigenous Communities across Alberta, British Columbia and Saskatchewan) (Buyer)
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