Kinder Morgan hires TD to sell Canadian business: Reuters

Kinder Morgan Inc has hired investment bank TD Securities to facilitate a potential sale of its Canadian business, which could fetch as much as $2.4 billion, sources told Reuters. Should the move succeed, it would mark the exit of the U.S. pipeline giant from Canada, having closed its sale of the Trans Mountain pipeline to the Canadian government for about $4.5 billion at the end of last month. The bidding for the business is expected to come from midstream companies, private equity firms and infrastructure funds. Kinder Morgan would likely keep the assets if it does not get a good price as they generate solid cash flows.

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