December 2015 Vol. 242, No. 12

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Kinder Morgan, Brookfield Buying Majority Interest in NGPL

Kinder Morgan and Brookfield Infrastructure Partners agreed to jointly acquire, from Myria Holdings, the 53% equity interest in Natural Gas Pipeline Company of America (NGPL) not already owned by them for $242 million. KMI will pay $136 million and increase its ownership interest from 20% to 50%, while Brookfield will pay $106 million, increasing its ownership from 27% to 50%. The transaction values NGPL at a total enterprise value of $3.4 billion, including existing debt. NGPL, which will continue to be operated by KMI, is one of the largest interstate pipeline systems in the country, with 9,200 miles of pipeline, more than 1 million hp of compressor facilities and 288 Bcf of working gas

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