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What Happened to TC Energy?

Published in Corporate Spin-off 1 min read

TC Energy has undergone a significant corporate transformation, separating into two independent, publicly listed companies: TC Energy Corporation and South Bow Corporation. This strategic move was designed to unlock value for shareholders and allow each entity to focus on its specific core strengths.

The strategic plan for this separation received approval from TC Energy's Board of Directors on July 27, 2023. This decision initiated the process to create two distinct investment-grade entities from the original company.

South Bow Corporation formally and legally separated from TC Energy on October 1, 2024. This date marks a monumental moment in the company's history, as South Bow began operating as a standalone entity, primarily focused on liquids pipelines. Simultaneously, TC Energy Corporation continues to manage its extensive natural gas infrastructure and power generation assets.

This strategic unbundling allows both companies to pursue tailored growth strategies and optimize capital allocation based on their unique business models and market dynamics.

For further details on this corporate restructuring, you can visit the TC Energy investor relations page.