TC Energy's Pipeline Stake Sale to Indigenous Communities Delayed
TC Energy's C$1 billion deal to sell a minority stake in its natural gas pipeline system to Indigenous communities has been delayed due to transaction structuring issues. The deal was intended to allow 72 Indigenous communities to acquire a 5.34% stake in the pipeline assets.
| Score | Value |
|---|---|
Scale | 7 |
Novelty | 7 |
Positivity | 6 |
Reliability | 8 |
Actionability | 2 |
Society | 8 |
Journalism | 4 |
Highlights
- TC Energy's C$1 billion deal to sell a minority stake in its Canadian natural gas pipeline system has been delayed due to a transaction structuring issue.
- The deal involves a 5.34% stake in the NGTL system and Foothills assets, which comprise a combined 25,000-kilometre network of natural gas infrastructure.
- The transaction was intended to enable 72 Indigenous communities to participate in the ownership of the pipeline assets.
- The deal was backed by the Alberta Indigenous Opportunities Corp. and negotiated by a consortium committee representing Indigenous communities across Alberta, British Columbia, and Saskatchewan.
- The total enterprise value of the deal, including debt, is $1.65 billion, making it Canada’s largest-ever Indigenous equity ownership agreement.