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Slide #36. Kinder Morgan Energy Partners, L.P. — American Petroleum Tankers (APT) and State Class Tankers
Kinder Morgan Energy Partners, L.P. (KMP)
American Petroleum Tankers (APT) and State Class Tankers
Kinder Morgan Energy Partners, L.P. (NYSE:KMP) today announced it has entered into a definitive agreement to acquire American Petroleum Tankers (APT) and State Class Tankers (SCT) from affiliates of The Blackstone Group and Cerberus Capital Management for $962 million in cash. APT and SCT are engaged in the marine transportation of crude oil, condensate and refined products in the United States domestic trade, commonly referred to as the Jones Act trade.
Kinder Morgan Energy Partners is a pipeline transportation and energy storage company. As of Dec 31 2013, Co. owned an interest in or operates approximately 52,000 miles of pipelines and 180 terminals. Co.'s pipelines transport natural gas, refined petroleum products, crude oil, condensate, carbon dioxide and other products, and its terminals store petroleum products, ethanol and chemicals, and handle such products as coal, petroleum coke and steel. Co. is also a producer and transporter of carbon dioxide (CO2), for oil recovery projects in North America. Co. has five business segments: Products Pipelines, Natural Gas Pipelines, CO2, Terminals and Kinder Morgan Canada.
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Hold (2.40 out of 4)
(ranked lower than approx. 51% of all stocks covered)
Based on Zacks ABR data;
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