Spectra to acquire pipeline system in $1.49-billion deal

Dec 11, 2012 | 01:12 PM |

Tags  Spectra Energy, Kinder Morgan, pipeline, Greg Ebel

NEW YORK — Spectra Energy Corp. has signed a deal to acquire the 1,717-mile Express-Platte Pipeline System for $1.49 billion.

Houston-based Spectra will take on full ownership of the system in the deal, which comprises $1.25 billion in cash and $240 million of acquired debt. Two crude oil pipelines make up the system: A 24-inch, 785-mile pipeline runs from....

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