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Company News

KKR, Alberta Investment to buy majority stake in Canada's Coastal GasLink

Dec 26 (Reuters) - Private equity firms KKR & Co Inc and Alberta Investment Management Corp together will buy a 65% stake in TC Energy Corp’s Coastal GasLink Pipeline in Canada, KKR said on Thursday.

Once ready, the pipeline will run from Dawson Creek in the northeast of British Columbia to the liquefied natural gas facility near Kitimat on the Pacific coast and will have an initial capacity of 2.1 billion cubic feet per day.

TC Energy Corp will record an after-tax gain of about C$600 million ($456.24 million) after the deal closes, the company said in a separate statement. ($1 = 1.3151 Canadian dollars) (Reporting by Shariq Khan in Bengaluru; Editing by Arun Koyyur)

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