Teck announces sale of fort hills interest

Vancouver, british columbia, oct. 26, 2022 (globe newswire) -- teck resources limited (tsx: teck.a and teck.b, nyse: teck) (“teck”) announced today it has agreed to sell its 21.3% interest in the fort hills energy limited partnership (“fort hills”) and certain associated downstream assets to suncor energy inc. (“suncor”) for gross proceeds of approximately $1 billion in cash, subject to customary closing adjustments reflecting a november 1, 2022 effective date. the transaction value is consistent with the current outlook for the fort hills business reflected in the most recent in-depth review of fort hills conducted by suncor and the resulting long-range plan for the project.
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