TC Energy to sell a 65 per cent equity interest in Coastal GasLink pipeline

TC Energy Corp. says in a news release that it has entered into an agreement for the sale to KKR and Alberta Investment Management Corporation , on behalf of certain AIMCo clients.

TC Energy also says it expects that once the deal is done, Coastal GasLink will secure financing with a syndicate of banks in order to fund up to 80 per cent of the project during construction. After the deal closes, TC Energy says it will hold a 35 per cent limited partnership equity interest in Coastal GasLink and will be contracted by the limited partnership to construct and operate the pipeline.

"We remain fully committed to the project and will continue to construct, deliver and operate the pipeline on behalf of the partnership."

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