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
Neville Jugnauth,
Derek Flaman,
David Cuschieri,
Amy Maginley,
Jessie Mann,
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
Ben Rogers,
Chris Harris,
Christine Milliken,
Evan Herbert (corporate),
Michael McIntosh,
Andrew Kolody (financial services),
Ross Bentley, Kris Simard,
Kathleen Cloutier (capital markets),
Julie Soloway,
Fraser Malcolm (competition).
Norton Rose Fulbright Canada LLP represented Royal Bank of Canada on project financing matters with a team that included
Rick Borden,
Jennifer Kennedy,
Matthew Longstaff,
Kirsty Sklar,
Darren Hueppelsheuser,
Peter Wiazowski,
Kassy Corothers,
Elisabeth Trotter,
Joe Mooney,
Mitchell Ng,
John Ebbels,
Amy Yang.