Summary
Kinder Morgan, Inc. (KMI) announced on September 1, 2016, the successful closing of a strategic joint venture with The Southern Company. This transaction involved KMI selling a 50% equity interest in its subsidiary, Southern Natural Gas Company, L.L.C., to a subsidiary of Southern Company. This joint venture is significant as it brings in a strategic partner for KMI's natural gas pipeline assets and is expected to provide financial and operational benefits. Investors should note that this announcement was made via a joint press release furnished with the 8-K filing, and information within is considered non-filed for certain SEC purposes.
Key Highlights
- 1Kinder Morgan (KMI) has closed a strategic joint venture with The Southern Company.
- 2KMI sold a 50% equity interest in Southern Natural Gas Company, L.L.C.
- 3The transaction involves a subsidiary of Southern Company acquiring the 50% stake.
- 4This move is framed as a strategic partnership for KMI's natural gas assets.
- 5The announcement was made through a joint press release filed as an exhibit.
- 6The filing specifies that the information is not deemed 'filed' under Section 18 of the Securities Exchange Act of 1934.