Kinder Morgan Unit Pays Parent $6.2B For Pipeline Assets

Law360, New York (August 6, 2012, 10:14 PM EDT) -- Kinder Morgan Energy Partners LP on Monday announced that it is acquiring interests in 24,000 miles of natural gas pipeline in a $6.22 billion deal to replace assets it agreed to sell in March in order to satisfy antitrust regulators.

In a so-called “drop down” transaction, parent company Kinder Morgan Inc. is selling the subsidiary 100 percent of its interest in the 13,900-mile Tennessee Gas Pipeline and a 50 percent interest in the 10,200-mile El Paso Natural Gas Pipeline.

Kinder Morgan Energy said the deal replaces...
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