Kinder Morgan Sells Shares In Canadian Pipeline Company

Date : 01/09/2020 @ 2:49PM
Source : Dow Jones News
Stock : Kinder Morgan Inc (KMI)
Quote : 14.2  0.21 (1.50%) @ 9:07PM
After Hours
Last Trade
Last $ 14.20 ◊ 0.00 (0.00%)

Kinder Morgan Sells Shares In Canadian Pipeline Company

Kinder Morgan (NYSE:KMI)
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By Micah Maidenberg

 

Kinder Morgan Inc. (KMI) said it sold about 25 million shares of Canada-based Pembina Pipeline Corp. (PBA, PPL.T), resulting in after-tax proceeds of $764 million.

The energy infrastructure company said it received the shares in Pembina when that company purchased Kinder Morgan Canada Ltd.

Kinder Morgan will use the funds from the stock sale to pay down debt, according to a statement it released Thursday.

 

Write to Micah Maidenberg at micah.maidenberg@wsj.com

 

(END) Dow Jones Newswires

January 09, 2020 09:34 ET (14:34 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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