Nov 1 (Reuters) - TransCanada Corp TRP.TO :
* TransCanada provides update on strategic initiatives
* Reaches agreement to purchase all of common units of Columbia Pipeline Partners LP for US$17.00 per unit
* announces bought deal offering of common shares of approximately $3.2 billion plus a 10 per cent over-allotment option
* Continues to advance $25 billion of near-term projects that are expected to be completed by 2020
* Agreement to purchase all of common units of Columbia Pipeline Partners LP for a total amount of approximately US$915 million
* Expects to realize approximately US$3.7 billion from monetization of its U.S. Northeast power business
* Actions expected to be accretive to earnings per share, strengthen financial position
* Ddecides to maintain full ownership interest in its Mexican natural gas pipeline business
* Actions to support expected annual dividend growth rate at upper end of eight to 10 per cent through 2020
* Sale transactions expected to result in an approximate $1.1 billion after-tax net loss Source text for Eikon: ID:nCCNgp3yR Further company coverage: TRP.TO