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  • TransCanada Announces Closing Conditions Satisfied for Acquisition of Columbia Pipeline Group
    édité le 30/06/2016 - Plus de news de "TC Energy" - Voir la fiche entreprise de "TC Energy"

TransCanada Announces Closing Conditions Satisfied for Acquisition of Columbia Pipeline Group
TransCanada Corporation (TransCanada) today announced that all conditions required to complete the previously announced acquisition of Columbia Pipeline Group, Inc. (NYSE:CPGX) (Columbia) under the terms of the merger agreement have been satisfied and that all necessary filings have been made for the transaction to take effect on July 1, 2016. TransCanada will acquire Columbia for US$25.50 per common share in cash, resulting in an aggregate purchase price of approximately US$13 billion including the assumption of approximately US$2.8 billion of debt. Upon completion of the acquisition, Columbia will be an indirect wholly-owned subsidiary of TransCanada.

"This acquisition is a tremendous opportunity to obtain a competitively-positioned, growing network of regulated natural gas pipelines and storage assets in the heart of the Marcellus and Utica basins," said Russ Girling, TransCanada's president and chief executive officer. "With this transaction, we have further diversified our suite of premium assets, added to our near-term growth portfolio and created one of North America's largest regulated natural gas transmission and storage businesses, linking the continent's most prolific natural gas supply basins to its most attractive markets."

The Marcellus and Utica basins - the fastest-growing natural gas supply region in North America - has the lowest development and production costs along with the highest growth prospects of any large basin on the continent. Upon completion of the acquisition, TransCanada will remain focused on advancing a combined $25 billion of secured, near-term growth projects that are expected to deliver significant customer and shareholder value as they enter service, largely in the 2016 to 2018 timeframe. This growth supports and may augment TransCanada's eight to 10 per cent expected annual dividend growth rate through 2020.

"As we move forward, our focus on safety, integrity, reliability and accountability remains the same so we can maintain strong relationships with the communities where we operate and maximize value for our shareholders," added Girling. "Together we are stronger, better able to compete, in a unique position to grow and to continue building critical energy infrastructure that North Americans need."

Moving forward, TransCanada will own and operate one of North America's largest natural gas transportation and storage networks. The company now connects supply in the Western Canada Sedimentary, Marcellus, Utica and other basins with markets across Canada, the United States and Mexico.

About Transcanada

With more than 65 years' experience, TransCanada (TSX:TRP) (NYSE:TRP) is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas and liquids pipelines, power generation and gas storage facilities. TransCanada operates a network of natural gas pipelines that extends more than 66,400 kilometres (41,300 miles), tapping into virtually all major gas supply basins in North America. TransCanada is one of the continent's leading provider of gas storage and related services with 368 billion cubic feet of storage capacity. A large independent power producer, TransCanada currently owns or has interests in over 10,500 megawatts of power generation in Canada and the United States. TransCanada is also the developer and operator of one of North America's leading liquids pipeline systems that extends over 4,300 kilometres (2,700 miles), connecting growing continental oil supplies to key markets and refineries. TransCanada's common shares trade on the Toronto and New York stock exchanges under the symbol TRP.

Origine : Communiqué TC Energy

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