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One-Page Deal Sheet

TC Energy Sells Interest in GasLink Pipeline to KKR, AimCo

Kohlberg Kravis Roberts & Co. (KKR), The Alberta Investment Management Corp.( AIMCo) TC Energy Corp.
AnnouncedDec 30, 2019
TypeAsset
Announced Date
December 30,2019
Transaction Type
Asset




Snapshot
Location
Region
Canada

Country
Canada


Transaction Details:  Require Private Equity Subscription

TC Energy Corp. has entered into an agreement to sell a 65% equity interest in the Coastal GasLink Pipeline Project (Coastal GasLink or the Project) to KKR and Alberta Investment Management Corporation (AIMCo) on behalf of certain AIMCo clients.

Under the terms of the sale, TC Energy will receive upfront proceeds that include reimbursement of KKR and AIMCo’s proportionate share of the project costs incurred as of the date of close as well as additional payment streams through the Project’s construction and operation. The Company expects to record an after-tax gain of approximately $600 million


Source : Require Private Equity Subscription

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