On May 28, 2019, TC Energy Corporation (TC Energy) announced that it entered into an agreement to sell an 85 per cent equity interest in Northern Courier Pipeline to Alberta Investment Management Corporation (AIMCo). The 90 km (56 mile) pipeline system transports bitumen and diluent between the Fort Hills mine site and Suncor Energy’s terminal located north of Fort McMurray, Alberta.
Following the closing of the transaction on July 17, 2019, TC Energy holds 15 per cent aggregate interest in Northern Courier Pipeline. TC Energy also remains the operator of the pipeline.
Torys LLP represented AIMCo with a team that includes
David Kolesar (corporate/M&A/debt finance),
Craig Maurice (tax).
Ash Nicol and Annethe Rodriguez Lomeli (commercial) and Jane Brindle, Ravina Mann and Elaine Sun (corporate securities and finance law) advised TC Energy Corporation internally.
Blake, Cassels & Graydon LLP advised TC Energy Corporation externally with a team that included
Evan Herbert (corporate),
Andrew Kolody (financial services),
Ross Bentley, Kris Simard,
Kathleen Cloutier (capital markets),
Fraser Malcolm (competition).
Norton Rose Fulbright Canada LLP represented Royal Bank of Canada on project financing matters with a team that included