CFIUS clears Columbia acquisition

Columbia Pipeline Group, Inc. (CPG) has announced that on 13 May 2016, the Committee on Foreign Investment in the United States (CFIUS) notified CPG and TransCanada Corporation (TransCanada) that its investigation of the proposed acquisition of CPG by TransCanada was complete and that there were no unresolved national security concerns with respect to the proposed transaction.

Receipt of this notification from CFIUS satisfies one of the conditions to the closing of the proposed transaction. CPG and TransCanada continue to anticipate completing the proposed transaction in the second half of 2016, subject to other customary closing conditions including US antitrust clearance and receipt of the approval of CPG stockholders.

Edited from source by Stephanie Roker

Read the article online at: https://www.worldpipelines.com/business-news/17052016/cfius-clears-columbia-acquisition/