TC Energy And Its Partner Northern New England Investment Company, A Subsidiary Of Énergir Will Sell Portland Natural Gas Transmission System To Blackrock, For $1.14B, Implying Valuation Of Approximately 11.0 Times Reported 2023 Comparable EBITDA
Portfolio Pulse from Benzinga Newsdesk
TC Energy and its partner, Northern New England Investment Company (a subsidiary of Énergir), have agreed to sell the Portland Natural Gas Transmission System to BlackRock for $1.14 billion. This sale price implies a valuation of approximately 11.0 times the reported 2023 comparable EBITDA.
March 04, 2024 | 11:50 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
TC Energy (TRP) is selling the Portland Natural Gas Transmission System to BlackRock for $1.14 billion, a significant transaction for the company.
The sale of the Portland Natural Gas Transmission System by TC Energy to BlackRock for $1.14 billion is a significant transaction for TC Energy. The valuation at approximately 11.0 times the reported 2023 comparable EBITDA suggests a favorable deal for TC Energy, potentially leading to a positive short-term impact on its stock price. The transaction indicates a strategic move by TC Energy to monetize assets and could be viewed positively by investors, reflecting on the company's ability to execute valuable deals.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90