One-Page Deal Sheet
Riverstone Acquires 50% Stake in Kinder Morgan's Utopia Pipeline
Riverstone Holdings Llc Kinder Morgan, Inc.
Announced Date
June 28,2016
Transaction Type
Asset
Transaction Details: Require Private Equity Subscription
Kinder Morgan, Inc. reported that Riverstone Investment Group LLC will become a 50 percent partner in the Utopia Pipeline Project. To acquire its ownership interest, Riverstone agreed to an upfront cash payment provided at closing, consisting of reimbursement to KMI for its 50 percent share of prior capital expenditures related to the project and a payment in excess of capital expenditures to recognize the value created by KMI in developing the project to this stage.
In addition to the acquisition of the existing assets, Riverstone has agreed to fund its share of future capital expenditures…