Firm Represents KKR in Connection with Announced Sale of 50 Percent Interest in El Paso Midstream Investment Company L.L.C. to Kinder Morgan
04.26.12
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The Firm is representing an investment vehicle affiliated with KKR & Co, L.P. in connection with its announced sale to Kinder Morgan Energy Partners, L.P. of its 50 percent interest in El Paso Midstream Investment Company L.L.C., a joint venture owning the Altamont gathering, processing, and treating assets and the Camino Real Gathering System, for $300 million in Kinder Morgan Energy Partners, L.P. common units. El Paso Corporation owns the other 50 percent of the joint venture. The parties anticipate that the transaction will close subsequent to the completion of Kinder Morgan, Inc.'s acquisition of El Paso, which is expected to occur by the end of May.
The Simpson Thacher team working on this transaction includes: Andrew Smith, Valentina Casella and Chelsea Freeman (M&A); Nancy Mehlman (Tax); Michael Naughton and Kenneth Ehrhard (Antitrust). The assistance of Joe Kaufman, Rise Norman and Roxane Reardon on securities matters was greatly appreciated.