Kinder Morgan sells stake in pipeline

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Keywords: Tags Kinder Morgan, Spectra Energy, Express-Platte pipeline

NEW YORK — Kinder Morgan Energy Partners LP has completed the sale of its one-third interest in the Express-Platte Pipeline System to Houston-based Spectra Energy Corp. for around $380 million.

The 1,717-mile oil pipeline system connects Canadian and U.S. producers to refineries in the Rocky Mountain and Midwest regions, according to Houston-based Kinder Morgan.

Spectra agreed to acquire the system from Kinder Morgan as well as its other owners, Borealis Infrastructure and the Ontario Teachers’ Pension Plan, for $1.49 billion late last year (amm.com, Dec. 11).

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From 05/23/2013

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