Kinder Morgan (KMP) to Divest Nat Gas, Pipeline Assets in $1.8B Deal w/ Tallgrass Energy

August 20, 2012 8:39 AM EDT Send to a Friend
Tallgrass Energy Partners, LP today announced that it has entered into a purchase and sale agreement with Kinder Morgan Energy Partners, L.P. (NYSE: KMP) to buy Kinder Morgan Interstate Gas Transmission (KMIGT), Trailblazer Pipeline Company, the Casper-Douglas natural gas processing and West Frenchie Draw treating facilities in Wyoming, and KMP’s 50 percent interest in the Rockies Express Pipeline (REX).

Tallgrass will acquire these assets for a total cash consideration of approximately $1.8 billion. Including the proportionate amount of REX debt, this amount is equivalent to a value of $3.3 billion. The transaction, which is subject to Federal Trade Commission (FTC) approval, is expected to close in the fourth quarter.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Corporate News, Mergers and Acquisitions

Comments

Mergers
Michael Caliazzo/Caliazzo Company on 2012-08-20 14:01:25
Mark as Spam | Reply to this comment

Panhandle drilling will yield new
transactions.


Add Your Comment