{"id":113886,"date":"2021-02-22T22:06:58","date_gmt":"2021-02-22T22:06:58","guid":{"rendered":"https:\/\/precoinnews.com\/?p=113886"},"modified":"2021-02-22T22:06:58","modified_gmt":"2021-02-22T22:06:58","slug":"kinder-morgan-and-brookfield-to-sell-25-stake-in-ngpl","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/kinder-morgan-and-brookfield-to-sell-25-stake-in-ngpl\/","title":{"rendered":"Kinder Morgan and Brookfield to sell 25% stake in NGPL"},"content":{"rendered":"<figcaption>FILE PHOTO: The headquarters of U.S. energy exporter and pipeline operator Kinder Morgan Inc. is seen in Houston, Texas, U.S. September 27, 2020.  REUTERS\/Gary McWilliams\/File Photo<\/figcaption><p>(Reuters) &#8211; Pipeline operator Kinder Morgan Inc and Brookfield Infrastructure Partners said on Monday they would sell a 25% stake in Natural Gas Pipeline Co (NGPL) to a fund controlled by ArcLight Capital Partners for $830 million.<\/p>\n<p>The value of the minority interest implies an enterprise value of about $5.2 billion for NGPL, representing 11.2 times its 2020 earnings before interest, taxes, depreciation, and amortization, the companies said.<\/p>\n<p>Kinder Morgan and Brookfield Infrastructure said they will each hold a 37.5% interest in NGPL following the close of the deal in the first quarter of 2021, and Kinder Morgan will continue to operate the pipeline.<\/p>\n<p>The proceeds from the deal will be shared equally between the two companies.<\/p>\n<p>With about 9,100 miles of pipeline, NGPL is the largest transporter of natural gas into the high-demand Chicago-area market as well as one of the largest interstate pipeline systems in the country.<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/us-natural-gas-pipeline-stake-kinder-mor\/kinder-morgan-and-brookfield-to-sell-25-stake-in-ngpl-idUSKBN2AM2JG\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FILE PHOTO: The headquarters of U.S. energy<\/p>\n","protected":false},"author":3,"featured_media":113885,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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