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.
Frequently Asked Questions
The main event is the closing of a strategic joint venture between Kinder Morgan, Inc. (KMI) and The Southern Company, where KMI sold a 50% equity interest in its subsidiary, Southern Natural Gas Company, L.L.C., to a subsidiary of Southern Company.
This joint venture allows KMI to bring in a strategic partner for its natural gas pipeline assets, which is expected to offer financial and operational benefits. It represents a move to enhance the value and strategic positioning of these assets.
According to the filing, the information furnished via the press release is not deemed 'filed' for purposes of Section 18 of the Securities Exchange Act of 1934, nor is it incorporated by reference into other SEC filings.
The partner in this joint venture is The Southern Company.