TC Energy Corp T.TRP

Canada’s largest Indigenous equity ownership agreement

[Betteryear2]

CALGARY, Alberta, July 30, 2024 (GLOBE NEWSWIRE) --  TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) is pleased to announce an equity interest purchase agreement (Agreement) with an Indigenous-owned investment partnership for a minority equity interest of 5.34 per cent in the NGTL System and the Foothills Pipeline assets (together, Partnership Assets) for a gross purchase price of $1 billion. The Agreement is backed by the Alberta Indigenous Opportunities Corporation (AIOC) and was negotiated by a consortium committee (Consortium) representing specific Indigenous Communities (Communities) across Alberta, British Columbia and Saskatchewan. This results in an implied enterprise value of approximately $1.65 billion, inclusive of the proportionate share of the Partnership Assets’ collective debt.

TC Energy announces Canada’s largest Indigenous equity (globenewswire.com)

[DeanEdmonton]

I trust you are all aware this is a straight out bribe. Government is putting up the money and the loan guarantees for the purchase, TRP will operate the line, cash will flow to the new "owners" for doing nothing at all.

[packerdriver]

So what??? 5% for a BILLION dollars...and make it easier to build/extend these pipelines in the future??? What's not to like???

[TimeBuilder1]

YES  ;>(

[TimeBuilder1]

YES more gifted  tax payer $$ at work.  IMO    ;>(