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Kinder Morgan to consolidate empire

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Monday, August 11, 2014

Bloomberg: Billionaire Richard Kinder plans to consolidate his pipeline empire to strengthen it for growth as the U.S. shale drilling boom opens up.

Kinder Morgan Inc. plans to acquire all of Kinder Morgan Energy Partners LP, Kinder Morgan Management LLC and El Paso Pipeline Partners LP in a series of transactions valued at about $44 billion, according to a statement yesterday.

The move by Kinder, who controls the entities through his 24 percent stake in the parent company, runs counter to the industry trend of spinning off pipelines and oil terminals into tax-advantaged partnerships that funnel cash to investors. By simplifying his empire’s corporate structure, Kinder will lower borrowing costs and unify the company under a single stock that he can use as currency to buy competitors.

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