TransCanada PipeLines Ltd., Calgary, has agreed to sell its Netherlands assets to GDF International SA, a wholly owned subsidiary of Gaz de France, for 371 million euros ($332.9 million). The sale will have an effective date of July 1, 2000. The divestiture is part of TransCanada's business refocusing program announced in 1999 (OGJ, Dec. 20, 1999, p. 32). TransCanada said it expects to receive 38 million euros in cash distribution relating to first half 2000 activity of the assets. But it also will repay a loan of 122.5 million euros associated with the original purchase and operations of the assets. The sale includes all of the outstanding shares of two TransCanada subsidiaries: TransCanada International (Europe) Ltd., and TransCanada International Petroleum (UK) Ltd.