Kinder Morgan has sold the 25 million shares in Pembina Pipeline Corporation stock it received in connection with Pembina’s acquisition of the outstanding common equity of Kinder Morgan Canada Limited for $754 million.

The sale of these shares is consistent with KMI’s previously announced intention to convert the shares into cash in an opportunistic and non-disruptive manner, and the after-tax proceeds of $764 million are consistent with KMI’s 2020 budget. 

KMI intends to use the proceeds to pay down debt.

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10th January 2020