Canadian pipeline operator TC Energy is exploring a multibillion-dollar asset sale plan to lower its debt and fund new investments, Bloomberg News reported on Friday, citing people familiar with the matter.
The company is working on the sale of a minority stake in ANR Pipeline, estimated at an enterprise value of about US$3 billion, as well as a minority stake in its Mexican operation and stakes in Portland Natural Gas Transmission System and the Millennium Pipeline, the report added.
No final decisions have been made and TC Energy could opt to keep some or all of the assets, according to the report. Earlier this year, TC sold a 40% interest in its Columbia Gas Transmission and Columbia Gulf Transmission pipelines to Global Infrastructure Partners (GIP) for CAN$5.3 billion (US$3.82 billion).
The company had also outlined plans to spin off its liquids pipeline business.
Read the article online at: https://www.worldpipelines.com/business-news/30102023/tc-energy-explores-sale-of-assets-worth-billions/
You might also like
In an industry where precision and safety are paramount, Process Vision announces the launch of its latest LineVu process camera.