TransCanada to sell stake in natgas pipeline for $223 mln

Fri Nov 6, 2015 7:50am EST
 
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Nov 6 (Reuters) - Canadian pipeline company TransCanada Corp said it will sell a 49.9 percent stake in a U.S. natural gas pipeline to its master limited partnership, TC PipeLines LP, for $223 million.

The stake sale in Portland Natural Gas Limited Partnership (PNGTS) would include $188 million in cash and debt of $35 million, the company said on Friday.

TransCanada owns a 61.7 percent stake in PNGTS, which delivers natural gas to the U.S. northeast. (Reporting by Manish Parashar in Bengaluru; Editing by Sriraj Kalluvila)