TC Energy announced a C$1 billion deal to sell a minority stake in some of its assets to select Indigenous communities. This agreement will enable 72 Indigenous communities to acquire a combined 5.34% minority equity interest in TC Energy’s NGTL System and Foothills pipeline assets. The deal is supported by the Alberta Indigenous Opportunities Corp.
Francois Poirier, CEO of TC Energy, stated that this is the largest Indigenous equity ownership agreement in Canada and emphasized the importance of Indigenous communities having resources to invest in their future and achieve greater economic sovereignty. The transaction is expected to close during Q3.
TC Energy, a Calgary-based company, operates in various segments including Canadian natural gas pipelines, U.S. natural gas pipelines, and Mexico natural gas pipelines, as well as liquids pipelines and power and energy solutions. This agreement marks a significant milestone for Indigenous economic opportunity and partnership. Shares of TC Energy Corp. are down 0.31% to $57.85 as of 11:06 am ET.
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