Update: Parent In "Process" Of Monetizing (Selling) Retail Supplier

In releasing earnings today, TransCanada Corporation said of its previously reported decision to sell its Northeast power marketing business, "We are also in the process of monetizing the U.S. Northeast power marketing business."

Proceeds from the future realization of value of the power marketing business will be used to repay the remaining portion of the acquisition bridge facilities which were used to partially finance the acquisition of Columbia Pipeline Partners

No further update was provided in an earnings release issued this morning.

As previously reported, in announcing the decision to sell the retail power marketing business in November 2016, TransCanada had said, at that time, that it expects to realize $435 million in a future sale of its Northeast power marketing business.