In a joint statement the companies said the deal equated to an SNG total enterprise value of roughly $4.15 billion, implying a value of $1.47 billion for Southern Company’s 50% share.
Southern Company intends to finance the initial purchase, as well as any related future growth opportunities, “in a credit-supportive manner”.
Kinder Morgan chief executive Steve Kean said the company planned to use the proceeds from the deal to reduce debt.
“This
