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Kinder Morgan to Acquire Transport Fleet from Blackstone, Cerberus

Kinder Morgan, Inc. Blackstone, Cerberus Capital Management
AnnouncedDec 23, 2013
TypeAsset
Announced Date
December 23,2013
Transaction Type
Asset




Snapshot
Location
Country
United States


Transaction Details:  Require Private Equity Subscription

Kinder Morgan Energy Partners L.P. has entered into a definitive agreement to acquire American Petroleum Tankers (APT) and State Class Tankers (SCT) from affiliates of The Blackstone Group and Cerberus Capital Management for $962 million in cash.

APT and SCT are engaged in the marine transportation of crude oil, condensate and refined products in the United States domestic trade, commonly referred to as the Jones Act trade.

APT’s fleet consists of five medium range Jones Act qualified product tankers, each with 330,000 barrels of cargo capacity. With an average vessel age of approximately…

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