BlackRock and Morgan Stanley Infrastructure Partners to acquire the Portland Natural Gas Transmission System from TC Energy and Énergir for $1.14bn.

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.