Kinder Morgan (NYSE:KMI)
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3 Months : From Jan 2020 to Apr 2020
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.
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(END) Dow Jones Newswires
January 09, 2020 09:34 ET (14:34 GMT)
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