TC Energy Initiates Plan To Spin-Off Liquids Pipeline Business To Create Value

Deal Overview

On July 27, 2023, TC Energy

TRP
Corp. (NYSE: TRP, $36.42, Market Capitalization: $37.5 billion) board of directors announced that it has decided to pursue a tax-free separation of the Liquids Pipelines business. Post-separation TC Energy Corp. (TC Energy) will continue to focus on Natural Gas Pipeline infrastructure, Power and Energy business driven by nuclear and hydro energy storage, while the spin-off entity will focus on Liquid Pipeline business.