TC Energy in Talks Over Stake Divesture Structure in Gas Pipeline With Indigenous Communities: CEO

MT Newswires Live11-20 01:31

TC Energy (TRP) Chief Executive Francois Poirier said Tuesday that divesture of a stake in the company's gas pipeline system from western Canada to indigenous communities might take a different shape.

"We're back to the drawing board and working very hard with the communities to come up with a solution," Poirier told analysts. "But it may come in a form that is different from an outright equity ownership interest."

Poirier said the company is working hard to increase "economic alignment" with the communities and the deal might take any form, including relationship agreements.

The transaction is no longer required to meet TC Energy's deleveraging goals, but is an important part of the company's reconciliation with the indigenous communities.

Price: 49.59, Change: -0.31, Percent Change: -0.63

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