TransCanada Corp. said that the plan of arrangement to establish it as the parent company of TransCanada PipeLines Ltd. has received all necessary regulatory approvals and certificates. As a result, the agreement went into effect Thursday.

Common shareholders of TransCanada PipeLines Ltd. have automatically become common shareholders of TransCanada Corp. on a one-for-one basis. TransCanada Corp.’s common shares are now publicly traded on the Toronto and New York stock exchanges under the symbol “TRP”, the symbol historically used by TransCanada PipeLines Ltd. Preferred shares in TransCanada PipeLines Ltd. are publicly traded under the new symbol “TCA”.

The company noted that the change will have no effect on day to day operations, services or obligations. In addition, the assets and liabilities of TransCanada PipeLines Ltd. remain with that unit. Debt holders and preferred shareholders of TransCanada PipeLines Ltd. will continue to hold these securities. TransCanada Corp. owns all of the outstanding common shares of TransCanada PipeLines Ltd.

Despite the creation of a parent company, TransCanada said it is still focused on natural gas transmission and power services. The company said it has a network of 38,000 kilometers of pipeline and transports the majority of Western Canada’s natural gas production to Canada and the United States. TransCanada also has interests in more than 4,000 MW of power.

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