TCPL investors cheer $1.15-billion asset sale

Article Abstract:

TransCanada PipeLines Ltd. has reached an agreement to sell its remaining Canadian assets in gas liquids extraction, gas gathering and processing for $1.15-billion. With the announcement, the stock rises 4.7% on the Toronto Stock Exchange. Williams Cos. Inc. of Tulsa, Okla. is buying TransCanada's natural gas liquids and extraction facilities in Alberta and British Columbia. TransCanada had suffered in market after it cut the dividend and changed strategy. Recent deal is the major step toward winning back investors' confidence.

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TCPL sells Netherlands assets

Article Abstract:

TransCanada PipeLines Ltd. has agreed to sell its Netherlands assets for net proceeds of $447-million, all but completing its divestment program. TCPL will sell its natural gas interests on the Dutch sector of the North Sea to GDF International SA, a subsidiary of Gaz de France.

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TCPL warns of third-quarter charge

Article Abstract:

Due to losses from natural gas contracts, TransCanada PipeLines Ltd. will take a $120 million charge in the third quarter.

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