Indian energy major Reliance Industries Ltd is among companies in talks to purchase the exploration and production (E&P)unit of U.S. pipeline company El Paso Corp, Bloomberg reported, citing unnamed people with knowledge about the matter. Private equity firm Apollo Global Management LLC is among the other companies in talks for the unit, which is estimated to be worth $8.1 billion by analysts at BNP Paribas, it said.U.S. regulators last month made a second request for information about Kinder Morgan Inc's planned $21 billion takeover of El Paso, first announced in October, in a deal that will combine the two largest natural gas pipeline companies.As part of the deal, Kinder plans to sell El Paso's E&P assets to help finance the acquisition. The deal is expected to close by the second quarter of 2012.Reliance is yet to decide whether to make a bid for the unit, Bloomberg reported.
Apollo Global Management, LLC (Apollo) is a global alternative asset manager. Shares of APO remained unchanged at $13.05. In the past year, the shares have traded as low as $8.85 and as high as $19.00. On average, 233452 shares of APO exchange hands on a given day and today's volume is recorded at 0.
El Paso Corporation (El Paso) is an energy company, which operates in the natural gas transmission and exploration and production sectors of the energy industry. Shares of EP remained unchanged at $26.50. In the past year, the shares have traded as low as $13.42 and as high as $26.97. On average, 13580400 shares of EP exchange hands on a given day and today's volume is recorded at 0.
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