FirstEnergy Corp. sold its retail gas marketing business, FirstEnergy Solutions, to Amerada Hess Corp. on Friday. FirstEnergy Solutions supplied gas to 1,900 commercial and industrial customers in selected areas within Ohio, Western Pennsylvania and West Virginia. Terms of the deal weren’t released. Akron, OH-based FirstEnergy holds seven electric utility operating companies with 4.4 million customers in Ohio, Pennsylvania and New Jersey.

Subsidiaries of TransCanada Corp. intend to sell 3.5 million common units of TC PipeLines, LP (the Partnership), using the net proceeds to assist in funding its 2005 capital requirements as well as for other corporate purposes, the company announced Tuesday. The Partnership has commenced an offering of common units owned by its general partner and an affiliate, both indirect subsidiaries of TransCanada. The underwriters have the option to purchase up to 525,000 additional units on the same terms and conditions to the extent more than 3,500,000 common units are sold in the offering. The Partnership will not receive any of the proceeds from the common units sold by TransCanada. After the offering, subsidiaries of TransCanada will continue to own the Partnership’s general partner interest as well as approximately 12% of the Partnership’s common units, assuming the underwriters’ over-allotment option is not exercised. Citigroup Global Markets Inc. and Lehman Brothers Inc. are acting as joint book-running managers of the offering. The remainder of the underwriting group is comprised of Goldman, Sachs & Co., UBS Securities LLC and A.G. Edwards & Sons, Inc.

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