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TransCanada Closes $13 Billion Deal for Columbia Pipeline Group

TransCanada, July 6, 2016

TransCanada Corporation has announced the completion of the transaction to acquire all of the outstanding shares of Columbia Pipeline Group, Inc. for an aggregate purchase price of approximately $13 billion (USD), including the assumption of approximately $2.8 billion of debt. With the completion of the acquisition, TransCanada will focus its attention on integrating Columbia's business. TransCanada has retained a financial advisor to assist in a review of strategic alternatives for its master limited partnership (MLP) holdings, in order to identify the strategy that best positions TransCanada for the long term. The Company will carefully review its integrated business plan including future financial needs and expects to be in a position to communicate its determination regarding the future of TC PipeLines, LP and Columbia Pipeline Partners LP later in 2016. The Company does not anticipate any dropdowns to the MLPs until the review has been completed.

For more information on the Columbia acquisition, please visit the TransCanada website at www.transcanada.com.
 

About TransCanada

With more than 65 years' experience, TransCanada 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 90,300 kilometres (56,100 miles), tapping into virtually all major gas supply basins in North America. TransCanada is the continent's leading provider of gas storage and related services with 664 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.

 


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