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Oil & Gas Equipment & Services M&A image Oil & Gas Equipment & Services M&A » By The Online Investor Staff, updated Sat., Sep. 19, 10:59 AM Recent mergers and acquisitions in the Oil & Gas Equipment & Services M&A category.

Slide #6. El Paso Pipeline Partners, L.P. Assets from Kinder Morgan, Inc.

Acquirer: El Paso Pipeline Partners, L.P. (EPB)
Acquiree: Assets from Kinder Morgan, Inc. (KMI)
Details: El Paso Pipeline Partners, L.P. (NYSE:EPB), today announced that it will acquire from Kinder Morgan, Inc. (NYSE:KMI) KMI's 50 percent interest in Ruby Pipeline, 50 percent interest in Gulf LNG and 47.5 percent interest in Young Gas Storage. The transaction value is approximately $2 billion, including $1.012 billion of proportionate debt at Ruby and Gulf LNG, resulting in an equity purchase price of $972 million (consistent with EPB's budget). The purchase, which is expected to close in May and be effective April 30, 2014, was approved by the independent members of the board of directors of KMI, and by the conflicts committee and the board of directors of EPB's general partner following the receipt of separate fairness opinions from different investment banks. The company previously announced that KMI would offer to sell (drop down) these assets to EPB.

El Paso Pipeline Partners owns and operates interstate natural gas transportation and terminaling facilities, and is engaged in interstate transportation and storage of natural gas. Co. owns Wyoming Interstate Company, L.L.C. (WIC), Southern LNG Company, L.L.C. (SLNG), Elba Express Company, L.L.C. (Elba Express), Southern Natural Gas Company, L.L.C. (SNG) and Colorado Interstate Gas Company, L.L.C. (CIG). WIC and CIG are interstate pipeline systems serving the Rocky Mountain region, SLNG owns the Elba Island LNG storage and regasification terminal near Savannah, GA, and both Elba Express and SNG are interstate pipeline systems serving the southeastern region of the U.S.

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El Paso Pipeline Partners owns and operates interstate natural gas transportation and terminaling facilities, and is engaged in interstate transportation and storage of natural gas. Co. owns Wyoming Interstate Company, L.L.C. (WIC), Southern LNG Company, L.L.C. (SLNG), Elba Express Company, L.L.C. (Elba Express), Southern Natural Gas Company, L.L.C. (SNG) and Colorado Interstate Gas Company, L.L.C. (CIG). WIC and CIG are interstate pipeline systems serving the Rocky Mountain region, SLNG owns the Elba Island LNG storage and regasification terminal near Savannah, GA, and both Elba Express and SNG are interstate pipeline systems serving the southeastern region of the U.S.

Open the KMI Page at The Online Investor »

Company Name: 
El Paso Pipeline Partners LP
Website: 
www.kindermorgan.com
Sector: 
Oil & Gas Equipment & Services
Company Name: 
Kinder Morgan Inc.
Stock buyback: 
KMI buyback
Website: 
www.kindermorgan.com
Sector: 
Oil & Gas Equipment & Services
Number of ETFs Holding KMI: 
105
Total Market Value Held by ETFs: 
$3.19B
Total Market Capitalization: 
$30.22B
% of Market Cap. Held by ETFs: 
10.56%
 

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