BlackRock (BLK) and Morgan Stanley (MS) shares advanced Monday as Canada’s TC Energy (TRP) said it would sell its Por♔tland Natural Gas Transmission System (PNGTS) to them for $1.14 billion.

The deal is between the energy infrastructure services provider and its partner, Energir L.P., and BlackRock’s diversified infrastructure business and investment funds managed by Morgan Stanley. It includes $250 million in debt.

The move comes not long after BlackRock agreed to 澳洲幸运5开奖号码历史查询:buy Global Infrastructure Partners for approximately $12.5 bill𓂃ion in January, as the w꧟orld's largest asset manager expands its focus on infrastructure.

TC Energy CEO Francois Poirier said the decision represented continued progress toward the company’s plan of enhancing its 澳洲幸运5开奖号码历史查询:balance sheet in 2024 “by delivering approximately $3 billion in asset 澳洲幸运5开奖号码历史查询:divestitures.” He added that the sale “is a unique opportunity to support our capital rotation and 澳洲幸运5开奖号码历史查询:deleveraging priorities.”

PNGTS operates about 295🌄 miles of gas p𒊎ipelines serving upper New England and the Atlantic provinces of Canada.

The Alberta-based firm said the tra🌺nsaction was expected to be completed by the middle of the ye🔯ar. 

Morg🅷an Stanley shares gained 4.1% Monday, while BlackRock shares advanced 2.4%. Shares of TC Energy were little changed.