El Paso Pipeline Partners LP said it would purchase natural gas assets from Kinder Morgan Inc for about $2 billion, including $1.01 billion of debt.El Paso Pipeline said as part of the deal, it would acquire a 50 percent interest in Ruby Pipeline, a 50 percent interest in Gulf LNG and a 47.5 percent interest in Young Gas Storage.The deal, which was previously announced, is expected to close in May.El Paso, a master limited partnership (MLP) with a general partner owned by Kinder Morgan Inc, plans to fund the deal with with EPB units issued to Kinder Morgan Inc as well as proceeds from debt or equity issues.
El Paso Pipeline Partners, L.P. owns and operates interstate natural gas transportation and terminaling facilities. Shares of EPB traded higher by 1.12% or $0.36/share to $32.63. In the past year, the shares have traded as low as $28.87 and as high as $44.99. On average, 979835 shares of EPB exchange hands on a given day and today's volume is recorded at 1378940.
Kinder Morgan, Inc. (KMI) owns and manages a diversified portfolio of energy transportation and storage assets. Shares of KMI fell by 0.61% or $-0.2/share to $32.38. In the past year, the shares have traded as low as $30.81 and as high as $41.49. On average, 6752080 shares of KMI exchange hands on a given day and today's volume is recorded at 6946017.
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