Kinder Morgan Sells Shares In Canadian Pipeline Company
January 09 2020 - 9:49AM
Dow Jones News
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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