RE:RE:RE:RE:RE:DudesYeah, I could easily have a similarly worded document that came to the exact opposite conclusion, just nice to finally see it in print, that was a long wait, the sale was first announced last March!
This sale backs TWM off from the brink, they weren't really making progress on debt repayments due to continued growth capex and their financing costs. Being able to actually make a dent in their debt without losing much (or any, if you believe their story on reduced tolls and increased NGL extraction at BRC) cash flow sets second half DCF to be much different.
Also sets them up to invest in their business again.
The transfer of the first 30KM of Pioneer to NGTL from ATCO was also approved:
In this decision, the Alberta Utilities Commission approves applications from ATCO Pipelines, a division of ATCO Gas and Pipelines Ltd., for the sale and transfer, to NOVA Gas Transmission Ltd., of the 29.9-kilometre westerly segment of the Pioneer Pipeline Inc. pipeline and associated facilities that are within the NOVA Gas Transmission Ltd. geographic service area, and a request to amend the existing pipeline licence