Utoo Radio - September 10, 2024 - TC Energy Corp. has pushed back a $1-billion deal to sell a small part of its natural gas transportation network in Western Canada to 72 Indigenous communities.

The deal, which was revealed in July, would allow 72 Indigenous communities to own 5.34% of Nova Gas's transmission system and Foothills pipeline assets.

The deal, backed by the Alberta Indigenous Opportunities Corp., is worth $1.65 billion, making it Canada's biggest-ever Indigenous stock ownership agreement.

TC Energy is working to ensure meaningful distributions to Indigenous communities while upholding the assets involved.