Global Infrastructure Partners to acquire a 40% stake in Columbia gas business from TC Energy for $3.9bn.

Global Infrastructure Partners, an infrastructure investment fund making both equity and selected debt investments, agreed to acquire a 40% stake in Columbia gas business from TC Energy, an energy infrastructure company, for $3.9bn. "Today’s announcement represents a major milestone in achieving our 2023 strategic priorities. To date, we have advanced our deleveraging goals by delivering on our $5bn+ asset divestiture program ahead of our year-end target, while maximizing the value of our assets and safely executing major projects, such as Coastal GasLink and Southeast Gateway. As part of our ongoing capital rotation program, we continue to evaluate opportunities to further our deleveraging objectives and optimally fund our secured capital program. Our commitment to strong balance sheet fundamentals and disciplined sanctioned net capital spending of $6 to $7bn annually post 2024 will continue to provide the foundation for a long-term sustainable annual dividend growth rate of three to five per cent,” François Poirier, TC Energy President and CEO.