By Tess Stynes
Kinder Morgan Inc. (KMI) said the sale of 63 million shares by
private-equity backers priced at a 3.6% discount to Tuesday's
close.
Shares were down 2.2% at $32.28 in recent premarket trading,
reflecting the stock-sale price of $31.88.
The selling shareholders are Goldman Sachs Group Inc. (GS),
Carlyle Group LP (CG) and Riverstone Holdings. Goldman recently had
a 13% Kinder Morgan stake while Carlyle and investment funds
affiliated with it and Riverstone have a combined 9.8% stake. The
planned sales would cut each of their holdings by about 25%.
The company and its management aren't selling any shares in the
offer.
The stock sale comes after Kinder Morgan completed its $21
billion acquisition of El Paso Corp. last month, creating North
America's largest natural-gas pripleine operator.
The offer also marks the first substantial sales by the parties
since Kinder Morgan's initial public offering in February 2011.
Goldman shares were up 1.1% at $93.25 in recent premarket
trading. Carlyle shares closed Tuesday at $20.94 and were inactive
premarket.
Write to Tess Stynes at Tess.Stynes@dowjones.com