Pipeline Operator TC Energy Exploring Multi-Billion-Dollar Asset Sale
(Reuters) - Canadian pipeline operator TC Energy is exploring a multibillion-dollar asset sale plan to lower its debt and fund new investments, Bloomberg News reported on Friday, citing people familiar with the matter.
The company is working on the sale of a minority stake in ANR Pipeline, estimated at an enterprise value of about $3 billion, as well as a minority stake in its Mexican operation and stakes in Portland Natural Gas Transmission System and the Millennium Pipeline, the report added.
No final decisions have been made and TC Energy could opt to keep some or all of the assets, according to the report.
TC Energy did not immediately respond to a Reuters request for comment.
Earlier this year, TC sold a 40% interest in its Columbia Gas Transmission and Columbia Gulf Transmission pipelines to Global Infrastructure Partners (GIP) for C$5.3 billion ($3.82 billion).
The company had also outlined plans to spin off its liquids pipeline business.
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