TC Energy Board Approves Plans To Separate Into Two Independent, Publicly Listed Companies Through Spinoff Of Liquids Pipelines Business
Portfolio Pulse from Benzinga Newsdesk
TC Energy's board has approved plans to split into two independent, publicly listed companies through the spinoff of its Liquids Pipelines business. The decision follows a two-year strategic review and is expected to be completed tax-free in the second half of 2024. The new Liquids Pipelines Company will be led by Bevin Wirzba.

July 27, 2023 | 8:54 pm
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NEUTRAL IMPACT
TC Energy's decision to split into two independent companies could potentially increase shareholder value by allowing each entity to focus on its core business. However, the process may also introduce uncertainties and risks.
The spinoff could potentially increase shareholder value by allowing each entity to focus on its core business, which could lead to improved operational efficiency and profitability. However, the process of splitting a company can also introduce uncertainties and risks, such as potential disruptions to operations and potential difficulties in attracting and retaining key personnel. The impact on TC Energy's stock price in the short term is uncertain, hence the neutral score.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100