TC Energy and TC PipeLines, LP complete merger
March 03 2021 - 7:54AM
News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy)
and TC PipeLines, LP (NYSE:TCP) (TCP) today announced that they
have completed the previously announced merger (the Merger)
pursuant to an Agreement and Plan of Merger dated December 14,
2020. The Merger resulted in TC Energy acquiring all of the
outstanding publicly-held common units of TCP and TCP becoming an
indirect, wholly owned subsidiary of TC Energy.
“We are pleased to have received majority unitholder approval of
the merger of TC PipeLines into TC Energy,” said François Poirier,
TC Energy’s President and Chief Executive Officer. “The merger
will simplify and streamline our corporate structure and increase
TC Energy’s ownership in its core portfolio of critical energy
infrastructure.”
Effective today, TCP unitholders are entitled to receive 0.70
common shares of TC Energy for each TCP common unit held.
Also effective today, the TCP common units will no longer be
listed for trading on the New York Stock Exchange (NYSE). Common
shares of TC Energy will continue to trade on both the NYSE and the
Toronto Stock Exchange under the symbol TRP.
About TC EnergyWe are a vital part of everyday
life — delivering the energy millions of people rely on to power
their lives in a sustainable way. Thanks to a safe, reliable
network of natural gas and crude oil pipelines, along with power
generation and storage facilities, wherever life happens — we’re
there. Guided by our core values of safety, responsibility,
collaboration and integrity, our 7,500 people make a positive
difference in the communities where we operate across Canada, the
U.S. and Mexico.
TC Energy’s common shares trade on the Toronto (TSX) and New
York (NYSE) stock exchanges under the symbol TRP. To learn more,
visit us at TCEnergy.com.
Forward-Looking Statements
This release 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”, “believe”, “may”, “will”, “should”,
“estimate”, “intend” or other similar words). Forward-looking
statements in this document are intended to provide TC Energy
security holders and potential investors with information regarding
TC Energy and its subsidiaries, including management’s assessment
of TC Energy's and its subsidiaries’ future plans and financial
outlook. All forward-looking statements reflect TC Energy’s beliefs
and assumptions based on information available at the time the
statements were made and as such are not guarantees of future
performance. As actual results could vary significantly from the
forward-looking information, you should not put undue reliance on
forward-looking information and should not use future-oriented
information or financial outlooks for anything other than their
intended purpose. We do not update our forward-looking information
due to new information or future events, unless we are required to
by law. For additional information on the assumptions made, and the
risks and uncertainties which could cause actual results to differ
from the anticipated results, refer to the most recent Quarterly
Report to Shareholders and Annual Report filed under TC Energy’s
profile on SEDAR at www.sedar.com and with the U.S. Securities and
Exchange Commission at www.sec.gov.
Media Inquiries:Jaimie Harding / Hejdi
Carlsen403-920-7859 or 800-608-7859
Investor & Analyst Inquiries:David Moneta /
Hunter Mau403-920-7911 or 800-361-6522
PDF
available: http://ml.globenewswire.com/Resource/Download/76dd9729-40cc-4441-bb54-6e31cd8ffa76
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