Tokai Puts Up $173M For TransCanada Unit, Waste Heat Plant

Law360, New York (January 21, 2014, 5:27 PM EST) -- TransCanada Corp. said Monday it has agreed to sell Cancarb Ltd. and its related 41-megawatt waste heat recovery power plant to Tokai Carbon Co. for CA$190 million ($173.2 million) in a move aimed at funding future projects for the Canadian energy infrastructure company.

The deal is expected to close late in the first quarter of 2014. According to a Monday statement from TransCanada, the divestiture of Cancarb and its Medicine Hat, Alberta-based power plant will allow the company to capitalize on current market conditions. In addition,...
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