El Paso Corp. on Friday sold its prized ANR Pipeline Co., Michigan storage assets and its 50% interest in Great Lakes Gas Transmission to TransCanada Corp. and TC PipeLines LP for $4.135 billion, which includes $744 million in debt. The sale, rumored after El Paso’s proposed Continental Connector pipeline project fell through, is expected to close early next year.
Hartson
Articles from Hartson
TransCanada Snags ANR Pipe, Great Lakes Gas, MI Storage for $4B
El Paso Corp. on Friday sold its prized ANR Pipeline Co., Michigan storage assets and its 50% interest in Great Lakes Gas Transmission to TransCanada Corp. and TC PipeLines LP for $4.135 billion, which includes $744 million in debt. The sale, rumored after El Paso’s proposed Continental Connector pipeline project fell through, is expected to close early next year.
February 23, 2007
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