HOUSTON--(BUSINESS WIRE)--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.
