On August 31, 2018, the Government of Canada purchased the "entities that control the existing Trans Mountain Pipeline, its Expansion Project and related assets for $4.4 billion" which was financed through a loan to CDEV, "an enterprise Crown corporation." The Government of Canada does not intend "to be a long-term owner of the Trans Mountain entities." By May 29 when the purchase was announced it was met with a "storm of criticism" from environmental groups, Indigenous leaders and opposition politicians. The Green Party's Elizabeth May said it was an "historic blunder"; the president of the Union of B.C. Indian Chiefs was "shocked and appalled."
