Kinder Morgan in $3.3bn asset sales

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Eoin O'Cinneide

 20 August 2012 13:39 GMT

Kinder Morgan Energy Partners has agreed to offload a plethora of midstream assets to Tallgrass Energy Partners in a deal worth $3.3 million.

The US integrated giant is, however, to receive $1.8 billion in cash for the combined deals as one sale includes debt.

The sale of a raft of companies and interests to Tallgrass is aimed at gaining clearance from US authorities for Kinder Morgan's $23 billion merger deal with El Paso Corporation.

Tallgrass is gettings its hands on Kinder Morgan Interstate Gas Transmission, Trailblazer Pipeline Company, Casper-Douglas natural gas processing and West Frenchie Draw treating facilities in Wyoming.

The buyer is also taking Kinder Morgan's 50% interest in Rockies Express Pipeline, the entity saddled iwth…

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