# TC Energy acquires 50% stake in TransCanada Turbines from John Wood Group

TC Energy Corporation acquired John Wood Group's 50% equity stake in TransCanada Turbines Ltd. for $67 million. The transaction closed on November 13, 2020.

- Type: Acquisition
- Announced: 2020-11-13
- Where: Alberta, Canada
- Value: $67.0M
- Status: completed
- Products: aeroderivative turbine MRO services
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Wood Group](https://endata.com/companies/386.md)
- [John Wood Group](https://endata.com/companies/1092.md) (target)
- [TC Energy](https://endata.com/companies/40987.md) (acquirer)
- [TransCanada Turbines](https://endata.com/companies/51195.md) (target)

## Sources

- [alantra.com](https://www.alantra.com/ib-transaction/john-wood-group-and-transcanada-turbines-sell-side-advisory-tc-energy-corporation/), 2020-11-13: "Alantra advises John Wood Group on the sale of TransCanada Turbines to TC Energy Corporation"
- [investegate.co.uk](https://www.investegate.co.uk/announcement/rns/wood-group-john---wg./wood-completes-sale-of-canadian-turbines-business/5996843), 2020-11-16: "Wood, the global engineering and consultancy company, announces today that it has completed the sale of its joint venture interest in TransCanada Turbines to joint venture partner TC Energy for a cash consideration of US$67m."
- [gulfoilandgas.com](https://www.gulfoilandgas.com/webpro1/main/mainnews.asp?id=905429), 2020-11-16: "Wood, the global engineering and consultancy company, announces that it has completed the sale of its joint venture interest in TransCanada Turbines to joint venture partner TC Energy for a cash consideration of US$67m."
- [insider.co.uk](https://www.insider.co.uk/news/wood-group-sells-stake-canadian-23022136), 2020-11-17: "Our focus on portfolio optimisation is driven by our strategic objective of building a premium, differentiated, higher margin business focused on energy and built environment markets."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.