TC Energy successfully completes $5.3 billion sale of a 40 per cent non-controlling equity interest in Columbia Gas and Columbia Gulf
CALGARY, Alberta, Oct. 04, 2023 (GLOBE NEWSWIRE) -- News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) today announced that it has successfully completed the sale of a 40 per cent non-controlling equity interest in its Columbia Gas Transmission, LLC (Columbia Gas) and Columbia Gulf Transmission, LLC (Columbia Gulf) systems to Global Infrastructure Partners (GIP) for total cash proceeds of $5.3 billion (US$3.9 billion).
- CALGARY, Alberta, Oct. 04, 2023 (GLOBE NEWSWIRE) -- News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) today announced that it has successfully completed the sale of a 40 per cent non-controlling equity interest in its Columbia Gas Transmission, LLC (Columbia Gas) and Columbia Gulf Transmission, LLC (Columbia Gulf) systems to Global Infrastructure Partners (GIP) for total cash proceeds of $5.3 billion (US$3.9 billion).
- "GIP is a strong and reputable strategic and financial partner that will help unlock incremental value on our Columbia gas systems."
- Going forward, GIP will fund its 40 per cent share of Columbia Gas and Columbia Gulf’s gross capital expenditures.
- CPHC is the entity through which TC Energy and GIP hold their equity interests.