Announced
Financials
Sources
Tags
Single Bidder
United States
gas transmission
Pipelines
Acquisition
Friendly
Domestic
Majority
Private
Private Equity
Pending
Infrastructure
Synopsis
Investment companies BlackRock and Morgan Stanley Infrastructure Partners to acquire the Portland Natural Gas Transmission System, a 475km FERC-regulated transporter of natural gas serving the upper New England and Atlantic Canada markets, from TC Energy, a natural gas company, and Énergir, an energy company, for $1.14bn. "Today’s announcement represents continued progress toward achieving our 2024 strategic priority of enhancing our balance sheet strength by delivering approximately $3bn in asset divestitures. We are committed to reaching our 4.75 times debt-to-EBITDA upper limit by year-end and expect to have further asset divestiture announcements through the year,” François Poirier, TC Energy President and CEO.
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