Summary
Kinder Morgan, Inc. (KMI) announced a significant strategic venture with The Southern Company on July 10, 2016, via a joint press release. This agreement involves KMI selling a 50% equity interest in its subsidiary, Southern Natural Gas Company, L.L.C., to Southern Company. This transaction marks a key partnership aimed at leveraging the strengths of both companies in the natural gas sector. Investors should note that this 8-K filing is primarily for Regulation FD disclosure and includes the press releases detailing this transaction. A webcast conference call was scheduled for July 11, 2016, to further discuss the details of this strategic alliance. The divestiture of a 50% stake in Southern Natural Gas Company indicates a move by KMI to potentially generate capital and focus on other strategic priorities, while securing a strong partner for a significant asset.
Key Highlights
- 1Kinder Morgan (KMI) entered into a definitive agreement with The Southern Company.
- 2KMI will sell a 50% equity interest in Southern Natural Gas Company, L.L.C. to Southern Company.
- 3This represents a strategic venture between the two energy companies.
- 4The announcement was made via a joint press release filed on July 10, 2016.
- 5A webcast conference call was scheduled for July 11, 2016, to discuss the transaction.
- 6The filing is primarily a Regulation FD disclosure, with the press releases as exhibits.