Duke Energy Sells Interest in Foothills Pipelines

Charlotte, North Carolina-based Duke Energy sold its interest in Foothills Pipe Lines Ltd. to Calgary-based TransCanada PipeLines Limited for US$105 million plus assumed debt, on August 15, 2003. As a result, Foothills will become a wholly owned subsidiary of TransCanada.

TransCanada was represented by in-house counsel David Kohlenberg and Christine Johnston. Duke Energy was represented by in-house counsel Bruce Pydee and Curt Bernardi, and assisted by McCarthy Tétrault LLP, with a team that included John Pearson, Byran Gibson, Jack Lutes, Edwin Kroft and Oliver Borgers.