KMI completes consolidation purchase

Kinder Morgan (KMI), Kinder Morgan Energy Partners (KMEP), Kinder Morgan Management (KMR) and El Paso Pipeline Partners LP have confirmed that KMI will acquire all of the outstanding equity securities of KMEP, KMR and El Paso, thus creating a single publicly traded security: KMI. The total purchase price of the transaction was $71 billion: $40 billion KMI equity, $4 billion cash, and $27 billion assumed debt.

KMI has stated that the combined entity is the largest energy infrastructure in North America and the third largest energy company overall with an estimated enterprise value of USD $140 billion. All together, KMI owns an interest in or operates about 80,000 miles of pipelines and 180 terminals. KMI’s pipelines transport natural gas, gasoline, crude oil, carbon dioxide, and other products, and its terminals store petroleum products and chemicals and handle such products as ethanol, coal, petroleum coke, and steel.

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