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    TRP   CA87807B1076

TC ENERGY CORPORATION

(TRP)
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TC Energy : sells remaining 15 per cent stake in Northern Courier Pipeline

09/16/2021 | 09:35am EDT

CALGARYTC Energy Corp. says it has signed a deal to sell its remaining 15 per cent stake in the Northern Courier Pipeline to a partnership including Suncor Energy Inc. and eight Indigenous communities.

Financial terms of the agreement were not immediately available.

The Astisiy Limited Partnership includes the Athabasca Chipewyan First Nation, Chipewyan Prairie First Nation, Conklin Métis Local #193, Fort Chipewyan Métis Local #125, Fort McKay Métis Nation, McMurray Métis, Fort McMurray #468 First Nation, Willow Lake Métis Nation and Suncor.

The sale is expected to close in the fourth quarter, subject to customary closing conditions and required regulatory approvals.

The Northern Courier Pipeline is 90 kilometres and carries bitumen and diluent between the Fort Hills oilsands mine and Suncor's terminal north of Fort McMurray, Alta.

TC Energy sold an 85 per cent stake in the pipeline to Alberta Investment Management Corp. in 2019.

This report by The Canadian Press was first published Sept. 16, 2021.

Companies in this story: (TSX:TRP, TSX:SU)

© 2021 The Canadian Press. All rights reserved., source Canadian Press DataFile

Stocks mentioned in the article
ChangeLast1st jan.
SUNCOR ENERGY INC. 0.65% 29.31 Delayed Quote.36.39%
TC ENERGY CORPORATION -0.52% 67.55 Delayed Quote.31.21%
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Financials
Sales 2021 13 631 M 10 999 M 10 999 M
Net income 2021 2 576 M 2 079 M 2 079 M
Net Debt 2021 51 189 M 41 304 M 41 304 M
P/E ratio 2021 24,0x
Yield 2021 5,13%
Capitalization 66 145 M 53 438 M 53 372 M
EV / Sales 2021 8,61x
EV / Sales 2022 8,17x
Nbr of Employees 7 283
Free-Float 93,9%
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Number of Analysts 22
Last Close Price 67,55 CAD
Average target price 69,14 CAD
Spread / Average Target 2,36%
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Managers and Directors
Francois L. Poirier President, Chief Executive Officer & Director
Joel E. Hunter CFO, Chief Risk Officer & Vice President
Siim Alden Vanaselja Chairman
Leslie C. Kass Executive Vice President-Technical Centre
Donald Michael Godfrey Stewart Independent Director
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