Transaction|May 28, 2019
AIMCo to acquire 85% equity interest in Northern Courier Pipeline
Torys acted as counsel to Alberta Investment Management Corporation with a team that included Neville Jugnauth, Derek Flaman, David Cuschieri, Amy Maginley, Jessie Mann and David Kolesar (corporate/M&A/debt finance) and Craig Maurice (tax).
On May 28, 2019, TC Energy Corporation (TC Energy) announced that it entered into an agreement to sell an 85% equity interest in Northern Courier Pipeline to Alberta Investment Management Corporation (AIMCo). The 90 km (56 mile) pipeline system transports bitumen and diluent between the Fort Hills mine site and Suncor Energy's terminal located north of Fort McMurray, Alberta.
Following the closing of the transaction, TC Energy will hold a 15% aggregate interest in Northern Courier Pipeline. TC Energy will remain the operator of the pipeline.
Further information can be found on Globe Newswire's website.