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TransCanada sells stakes in two gas pipelines to TC Pipeline for $765M [Seeking Alpha]

TRANSCANADA (TRP)  More Company Research Source: Seeking Alpha
Last transcanada earnings: 4/27 07:30 am Check Earnings Report
US:NYSE Investor Relations: transcanada.com/en/investors
PDF TransCanada (NYSE: TRP ) agrees to sell its remaining 49.3% interest in Iroquois Gas Transmission System and an 11.8% stake in Portland Natural Gas Transmission System to TC Pipelines (NYSE: TCP ) for $765M. TRP says the deal value consists of $597M in cash and the assumption of $168M in proportionate debt at Iroquois and PNGTS. The Iroquois pipeline transports natural gas under long-term contracts and extends from the TransCanada Mainline system near Waddington, N.Y., to markets in the U.S. northeast; the PNGTS interstate natural gas pipeline starts near Westbrook, Me., and ends near Boston. TRP already sold a 49.9% stake in PNGTS to its TC Pipelines MLP in January 2016; through its subsidiaries, TRP owns a ~26% in TCP. Now read: What To Make Of Kinder Morgan's Earnings Miss » [Read more]

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