One-Page Deal Sheet
Kinder Morgan Exits Canada in $2.5B Deal with Pembina
Pembina Pipeline Corp Kinder Morgan, Inc.
Announced Date
August 22,2019
Close Date
December 16,2019
Transaction Type
Asset
Location
Region
Canada
Country
Canada
Transaction Details: Subscribe to see
Kinder Morgan Inc. has agreed to sell the U.S. portion of the Cochin Pipeline to Pembina Pipeline Corp. for in a cash/stock deal worth $2.481B ($1.546 billion in cash / $935 million in stock).
This deal closed on December 16, 2019.
This sale marks Kinder Morgan's exit from Canada and includes the sale of its Cochin Pipeline and its Kinder Morgan Canada subsidiary.
Proceeds will be used to pay down the company's debt load.
Chief Executive Officer Steve Kean said: “This is an attractive transaction for KMI and KML stockholders. It enables KMI to reduce leverage and gives us the flexibility to…
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