Kinder Morgan Announces Closing of the Merger Transactions
November 26 2014 - 04:05PM
Business Wire
Second Largest Energy Transaction in History
Creates Largest Midstream and Third Largest Energy Company in North
America
Kinder Morgan, Inc. (NYSE: KMI) today announced it has completed
its acquisition of the outstanding equity securities of Kinder
Morgan Energy Partners, L.P. (NYSE: KMP), Kinder Morgan Management,
LLC (NYSE: KMR) and El Paso Pipeline Partners, L.P. (NYSE: EPB).
The approximately $76 billion transaction was initially announced
Aug. 10, 2014.
Chairman and CEO Richard D. Kinder stated, “We are delighted to
close the KMP, KMR and EPB transactions. We believe merging the
companies benefits our shareholders and unitholders, simplifies the
Kinder Morgan story by transitioning to one security and paves the
way for superior growth at KMI for years to come. KMI projects a
dividend of $2.00 per share for 2015, a 16 percent increase over
the 2014 KMI dividend budget of $1.72 per share. The company
expects to grow the dividend by approximately 10 percent each year
from 2015 through 2020, while producing excess coverage of over $2
billion.”
Kinder Morgan, Inc. (NYSE: KMI) is the largest energy
infrastructure company in North America. It owns an interest in or
operates approximately 80,000 miles of pipelines and
180 terminals. The company’s pipelines transport natural gas,
gasoline, crude oil, CO2 and other products, and its terminals
store petroleum products and chemicals, and handle bulk materials
like coal and petroleum coke. Kinder Morgan is the largest
midstream and third largest energy company in North America with an
enterprise value of more than $125 billion. For more
information please visit www.kindermorgan.com.
This news release includes forward-looking statements. These
forward-looking statements are subject to risks and uncertainties
and are based on the beliefs and assumptions of management, based
on information currently available to them. Although Kinder Morgan
believes that these forward-looking statements are based on
reasonable assumptions, it can give no assurance that such
assumptions will materialize. Important factors that could cause
actual results to differ materially from those in the
forward-looking statements herein include those enumerated in
Kinder Morgan’s reports filed with the Securities and Exchange
Commission. Forward-looking statements speak only as of the date
they were made, and except to the extent required by law, Kinder
Morgan undertakes no obligation to update or review any
forward-looking statement because of new information, future events
or other factors. Because of these uncertainties, readers should
not place undue reliance on these forward-looking statements.
Kinder Morgan, Inc.Media RelationsLarry Pierce, (713)
369-9407larry_pierce@kindermorgan.comorInvestor
Relations(713)
369-9490km_ir@kindermorgan.comwww.kindermorgan.com