Kinder Morgan and Brookfield Infrastructure Announce Minority Interest Sale in Natural Gas Pipeline Company of America LLC
Retrieved on:
Monday, February 22, 2021
Kinder Morgan, Inc. (NYSE: KMI) and Brookfield Infrastructure Partners L.P. (NYSE: BIP; TSX: BIP.UN) (Brookfield Infrastructure) today jointly announced that they have agreed to sell a 25% minority interest in Natural Gas Pipeline Company of America LLC (NGPL) to a fund controlled by ArcLight Capital Partners, LLC (ArcLight) for $830 million.
Key Points:
- Kinder Morgan, Inc. (NYSE: KMI) and Brookfield Infrastructure Partners L.P. (NYSE: BIP; TSX: BIP.UN) (Brookfield Infrastructure) today jointly announced that they have agreed to sell a 25% minority interest in Natural Gas Pipeline Company of America LLC (NGPL) to a fund controlled by ArcLight Capital Partners, LLC (ArcLight) for $830 million.
- Upon closing, KMI and Brookfield Infrastructure will each hold a 37.5% interest in NGPL, and KMI will continue to operate the pipeline.
- Kinder Morgan and Brookfield Infrastructure are pleased to welcome ArcLight into the NGPL joint venture, said Kinder Morgan Natural Gas Pipelines President Tom Martin.
- We believe this investment shows the value of natural gas infrastructure both today and in the decades to come.