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Indigenous-owned Aspen Investments LP confirmed Wednesday that its agreement to acquire a 5.34% stake in the NGTL natural gas pipeline system and the Foothills pipeline assets from TC Energy (NYSE:TRP) has been delayed due to a transaction structuring issue.
Aspen Investments said it is seeking further information and explanations from TC Energy (TRP) but is committed to completing the transaction.
TC Energy (TRP) said on Tuesday only that it will provide material updates as they become available.
The deal had been expected to provide a key step to achieving the company’s C$3B asset sale target for 2024.
The 24.4K km NGTL system connects most of the natural gas production in western Canada to domestic and export markets.
