TC Energy (TSE:TRP) has released an update.
TC Energy shareholders have approved the strategic spinoff of their Liquids Pipelines business into a new company, South Bow Corporation, and elected a Board of Directors at their 2024 annual meeting. Shareholders will receive shares in both TC Energy and the new entity, South Bow, which is expected to operate independently by late 2024, aimed at creating greater shareholder value. The spinoff, which is set to enhance focus and performance of both companies, is contingent upon regulatory and court approvals.
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