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TransCanada explores sale of Columbia Midstream unit - Reuters

Apr. 05, 2019 3:31 PM ETTC Energy Corporation (TRP) Stock, TRP:CA StockTRPBy: Carl Surran, SA News Editor3 Comments
  • TransCanada (TRP +0.5%) is exploring a potential sale of its Columbia Midstream pipeline unit in a deal that could value the business at ~$1B, Reuters reports.
  • Columbia Midstream’s assets include four gathering systems and a pipeline in eastern Ohio and western Pennsylvania, and generates ~$100M in annual EBITDA.
  • TRP also is seeking to sell a package of mineral rights in the eastern U.S. Appalachian region, which would raise further cash for the company, according to the report.
  • TRP wants to offload parts of its infrastructure to help finance $8B it has earmarked to spend on new projects in 2019, such as the Coastal GasLink system and the Keystone XL pipeline, which likely would generate higher returns than the legacy assets.

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