TransCanada Reaches Agreement to Sell Cancarb Limited

TransCanada Reaches Agreement to Sell Cancarb Limited 
CALGARY, ALBERTA -- (Marketwired) -- 01/20/14 --  TransCanada
Corporation (TSX: TRP) (NYSE: TRP) (TransCanada) announced today it
has reached an agreement to sell Cancarb Limited (Cancarb) and its
related power generation facility to Tokai Carbon Co., Ltd. for
aggregate gross proceeds of $190 million, plus customary adjustments.
The transaction is expected to close late in the first quarter of
2014, subject to various approvals. 
The divestiture of Cancarb and its waste heat recovery power plant,
located in Medicine Hat, Alberta, allows TransCanada to capitalize on
current market conditions and better align its asset base with the
company's strategic direction, which is focused on large-scale
pipeline and power generation projects in Canada, the United States
and Mexico. J.P. Morgan Securities LLC acted as the exclusive
financial advisor on the transaction. 
"Like any company, we regularly evaluate our diverse portfolio of
assets to ensure it is maximizing value for our shareholders as we
realize our vision of becoming North America's leading energy
infrastructure company," said Russ Girling, TransCanada's president
and chief executive officer. "The proceeds from this sale will help
fund TransCanada's unprecedented capital growth plan that includes
$38-billion in new projects to be completed by the end of the
TransCanada acquired Cancarb in 1981. Cancarb is the world's largest
producer of "thermal carbon black," a specialized form of carbon
derived from super-heated natural gas, which is used in a wide range
of industrial and automotive products including high-grade rubber,
insulation and ceramics. The adjoining 41-megawatt power plant that
was added in 2001 captures large volumes of waste heat from the
manufacturing process to produce electricity that is sold into
Medicine Hat's electrical grid, helping to reduce greenhouse gas
"Low natural gas prices, combined with Cancarb's strong performance
and global market share for thermal carbon black, made it an
attractive investment for prospective buyers," Girling said.
"Decisions like this are intended to build a stronger company for
everyone, and we are committed to ensuring Cancarb's employees are
treated fairly during the transition to new ownership." 
For more information about Cancarb, visit the company's website: 
Tokai Carbon Co., Ltd., headquartered in Tokyo, Japan, is an
established international supplier of furnace carbon black and other
carbon ceramic-related products. The company is listed on the Tokyo
Stock Exchange and has affiliates in China, Korea, Thailand, the
United States, Germany, Italy, Sweden and the United Kingdom. The
company operates five plants in three countries (Japan, China and
Thailand) that produce furnace carbon black, with combined annual
capacity over 500,000 metric tonnes. 
With more than 60 years' experience, TransCanada is a leader in the
responsible development and reliable operation of North American
energy infrastructure including natural gas and oil pipelines, power
generation and gas storage facilities. TransCanada operates a network
of natural gas pipelines that extends more than 68,500 kilometres
(42,500 miles), tapping into virtually all major gas supply basins in
North America. TransCanada is one of the continent's largest
providers of gas storage and related services with more than 400
billion cubic feet of storage capacity. A growing independent power
producer, TransCanada owns or has interests in over 11,800 megawatts
of power generation in Canada and the United States. TransCanada is
developing one of North America's largest oil delivery systems.
TransCanada's common shares trade on the Toronto and New York stock
exchanges under the symbol TRP. For more information visit: or check us out on Twitter @TransCanada or  
This publication contains certain information that is forward-looking
and is subject to important risks and uncertainties (such statements
are usually accompanied by words such as "anticipate," "expect,"
"would," "will" or other similar words). Forward-looking statements
in this document are intended to provide TransCanada security holders
and potential investors with information regarding TransCanada and
its subsidiaries, including management's assessment of TransCanada
and its subsidiaries' future financial and operation plans and
outlook. All forward-looking statements reflect TransCanada's beliefs
and assumptions based on information available at the time the
statements were made. Readers are cautioned not to place undue
reliance on this forward-looking information. TransCanada undertakes
no obligation to update or revise any forward-looking information
except as required by law. For additional information on the
assumptions made, and the risks and uncertainties that could cause
actual results to differ from the anticipated results, refer to
TransCanada's Quarterly Report to Shareholders filed November 5,
2013, and the 2012 Annual Report filed under TransCanada's profile on
SEDAR at and with the U.S. Securities and Exchange
Commission at and available on TransCanada's website at 
Media Enquiries:
Shawn Howard/Grady Semmens/Davis Sheremata
403.920.7859 or 800.608.7859 
Investor & Analyst Enquiries:
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403.920.7911 or 800.361.6522
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