TC Energy said the deal has been delayed "due to an identified transaction structuring issue within the NGTL partnership," highlighting challenges in moving forward with the agreement.
The $1-billion equity loan guarantee by the Alberta Indigenous Opportunities Corp. is meant to support the newly formed Indigenous-owned investment partnership, reflecting ongoing governmental support.
When initially announced, the agreement was celebrated as a significant turning point for Indigenous equity in Canada, with an enterprise value of $1.65 billion.
Representatives of the Indigenous consortium have not yet responded to a request for comment, indicating a lack of direct communication following the deal's delay.
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