04.03.2024 13:10:54 - dpa-AFX: TC Energy Announces Sale Of Portland Natural Gas Transmission System To BlackRock
BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - TC Energy Corporation (TRP, TRP.TO) and
its partner Northern New England Investment Company, Inc., a subsidiary of
Energir L.P., have entered into a purchase and sale agreement to sell Portland
Natural Gas Transmission System to BlackRock, through a fund managed by its
Diversified Infrastructure business, and investment funds managed by Morgan
Stanley Infrastructure Partners, for a gross purchase price of $1.14 billion.
The transaction generates pre-tax cash equity proceeds of approximately $545
million net to TC Energy.
Portland Natural Gas Transmission System is a 475-kilometer FERC-regulated
transporter of natural gas serving the upper New England and Atlantic Canada
markets.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX