TC Energy To Spin Off Pipeline Business

TC Energy will split its operations into two separate companies, separating its liquids pipeline business from the rest. In a news release, the Canadian company said “The spinoff will unlock shareholder value by providing both companies with the flexibility to pursue their own growth objectives through disciplined capital allocation, enhancing efficiencies and driving operational excellence.” However, only the non-pipeline business will retain the name of the company, suggesting TC Energy is trying to distance itself from its core business…