TC Energy Announces $1B Equity Interest Purchase Agreement With Indigenous Investment Partnership For 5.34% Stake In NGTL And Foothills Pipeline Assets
Portfolio Pulse from Benzinga Newsdesk
TC Energy has announced a $1 billion equity interest purchase agreement with an Indigenous Investment Partnership for a 5.34% stake in NGTL and Foothills pipeline assets. The deal is backed by the Alberta Indigenous Opportunities Corporation and implies an enterprise value of $1.65 billion.
July 30, 2024 | 12:19 pm
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TC Energy has entered into a $1 billion equity interest purchase agreement with an Indigenous Investment Partnership for a 5.34% stake in NGTL and Foothills pipeline assets. This deal, backed by the Alberta Indigenous Opportunities Corporation, implies an enterprise value of $1.65 billion.
The $1 billion equity interest purchase agreement indicates a significant investment and partnership for TC Energy, which could positively impact its stock price in the short term. The backing by the Alberta Indigenous Opportunities Corporation adds credibility and support to the deal.
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