Government of Canada C$4.5 billion acquisition of TMEP

Overview:

• The Government of Canada has announced it's acquiring the Trans Mountain Pipeline system and expansion project (TMEP) in a C$4.5 billion deal.
• The project is being sold by Kinder Morgan.
• The Trans Mountain Pipeline's expansion has been stalled amidst highly publicised protests from Canadian environmental groups and various legal challenges from entities based in British Columbia. 
• The Canadian government has claimed that it doesn't intend to retain ownership of the project for long. 
• The transaction is expected to close in either the third or fourth quarter of 2018. 
• TD Securities acted as financial adviser to Kinder Morgan.

Kurt Stumpo - Journalist