TransAlta and Tidewater Midstream Sign Letter of Intent to Sell the Pioneer Pipeline
TransAlta Corporation Ordinary Shares (TAC)
Last transalta corporation ordinary shares earnings: 3/4 07:00 am
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Source: PR Newswire
CALGARY, March 12, 2020 /PRNewswire/ - TransAlta Corporation ("TransAlta" or the "Company") (TSX: TA) (NYSE: TAC) announced today that the Company, with its partner Tidewater Midstream & Infrastructure Ltd. ("Tidewater"), has entered into a Letter of Intent to sell the Pioneer Pipeline to NOVA Gas Transmission Ltd. ("NGTL"), a wholly-owned subsidiary of TC Energy, for a purchase price of CDN $255 million. As part of the transaction, NGTL intends to integrate the Pioneer Pipeline into its natural gas pipeline infrastructure in Alberta.The benefits of the transaction to TransAlta include:Access to NGTL's highly liquid natural gas network and gas trading hub; Additional reliability and flexibility of having two pipelines delivering natural gas to the Company's power stations; Access to a broad and diversified group of gas producers and resource basins; and Cash proceeds that can be used to fund the Company's natural gas conversion program, or for other purposes.As part of the transaction
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TAC
Earnings
- 11/5/24 - Beat
TAC
Sec Filings
- 12/10/24 - Form 6-K
- 12/4/24 - Form 6-K
- 11/14/24 - Form 6-K
- TAC's page on the SEC website