TC Energy Announces Sale Of Portland Natural Gas Transmission System To BlackRock

(RTTNews) - TC Energy Corporation (TRP, TRP.TO) and its partner Northern New England Investment Company, Inc., a subsidiary of Energir L.P., have entered into a purchase and sale agreement to sell Portland Natural Gas Transmission System to BlackRock, through a fund managed by its Diversified Infrastructure business, and investment funds managed by Morgan Stanley Infrastructure Partners, for a gross purchase price of $1.14 billion. The transaction generates pre-tax cash equity proceeds of approximately $545 million net to TC Energy.

Portland Natural Gas Transmission System is a 475-kilometer FERC-regulated transporter of natural gas serving the upper New England and Atlantic Canada markets.