Brookfield partners in $242 mln acquisition of gas pipeline system
Brookfield Infrastructure Partners and Kinder Morgan Inc (NYSE: KMI) have agreed to jointly acquire a 53 percent interest in Natural Gas Pipeline Co of America LLC (NGPL), a U.S. interstate pipeline system that serves the Chicago market. The acquirers will pay about US$242 million to the majority stake's current owner, Myria Holdings Inc. The deal, which values the gas pipeline business at US$3.4 billion, including debt, is expected to close this year. It will see Brookfield Infrastructure, an affiliate of Toronto-based Brookfield Asset Management, increase its NGPL ownership interest from about 27 percent to 50 percent.
1 December 2015•5 mins read
