Source: www.gulfoilandgas.com 9/10/2024, Location: North America
TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) is providing an update on its previously announced equity interest purchase transaction with an Indigenous-owned investment partnership (the Purchaser), which was formed to acquire a minority equity interest in the NGTL System and the Foothills Pipeline assets.
The previously announced equity interest purchase transaction with the Purchaser has been delayed due to an identified transaction structuring issue within the NGTL partnership.
The Company is focused on developing a transaction that delivers meaningful distributions to Indigenous Communities while upholding the fundamental value of the NGTL System and the Foothills Pipeline assets.
The Company acknowledges the effort its many partners have given to this transaction to date and will provide material updates as they become available.
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