Transcan

TransCanada Corp. said Wednesday that subsidiary TransCan Northern Ltd. is buying 8.7 million common units of TC PipeLines LP for US$34.57/unit, or a total of about $300 million. The investment represents 50% of the US$600 million private placement of common units by TC Pipelines. Another subsidiary of TransCanada also will invest US$12 million in TC Pipelines to maintain its general partnership interest.