Canada’s TC Energy completes Coastal GasLink pipeline stake sale
Pipeline operator TC Energy Corp said on Monday it had completed the sale of a 65% stake in its Coastal GasLink pipeline, which will move gas from northeast British Columbia to the Pacific Coast.
Private equity firm KKR & Co Inc said in December that it and Alberta Investment Management Corp would jointly buy the 65% Coastal GasLink stake.
The company said the partnership also includes a credit agreement with a syndicate of banks to fund the majority of the construction costs.
The C$6.6-billion pipeline, to be operated by TC Energy, had earlier faced opposition from an indigenous group, saying the project interfered with hunting and trapping rights.