Deals
TransCanada to Sell Stake in Mexico Natural Gas Pipelines
- Company looking for financial partners to buy stake this year
- Stake sale to be used to finance Columbia Pipeline purchase
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TransCanada Corp. plans to sell as much as 49 percent of its five Mexico natural gas pipelines to a passive partner to help pay for the $10.2 billion purchase of Columbia Pipeline Group Inc.
TransCanada is “refinancing" its Mexican business to raise funds after agreeing to buy Columbia Pipeline Group, its biggest-ever acquisition, on March 17, Robert Jones, TransCanada’s Mexico country chief, said in a phone interview from Calgary. The sale of the stake, which is expected to be completed this year, will not affect the company’s future development and pipeline bidding plans in Mexico, he said.