TC Energy Explores Asset Sales Worth $10B, Debt Reduction on the Horizon
Portfolio Pulse from Vandana Singh
TC Energy Corp (NYSE:TRP) is considering selling a minority stake in ANR Pipeline Co, a portion of its Mexican operation, a controlling stake in the Portland Natural Gas Transmission System, and a significant minority stake in the Millennium Pipeline. These assets are collectively valued at approximately $10 billion. This comes as part of a larger transformation under CEO Francois Poirier, which includes a $5.2 billion deal with Global Infrastructure Partners and an additional $3 billion in divestitures to meet the company's debt ratio target.
October 30, 2023 | 1:27 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
TC Energy is considering selling assets worth $10 billion, which could potentially reduce its debt and transform its business structure.
The news of potential asset sales by TC Energy could have a neutral impact on its stock in the short term. While the sales could help reduce the company's debt, they could also lead to a loss of revenue from these assets. The final impact will depend on the details of the sales, including the prices obtained and the use of the proceeds.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100