8-KOther EventsExhibits & Filings

KINDER MORGAN, INC. 8-K Report, Corporate Update (Dec 16, 2019)

Filed December 16, 2019For Securities:KMIEP-PC

Summary

Kinder Morgan, Inc. (KMI) announced on December 16, 2019, the successful completion of two significant transactions related to its pipeline assets. Firstly, KMI finalized the sale of the U.S. portion of its Cochin Pipeline to Pembina Pipeline Corporation. This divestiture is a strategic move aimed at streamlining its asset portfolio and potentially improving financial flexibility. Secondly, KMI's subsidiary, Kinder Morgan Canada Limited (KML), has been acquired by Pembina. Pembina has purchased all outstanding common equity of KML, including the portion owned by KMI. This transaction signifies a substantial shift in KML's ownership structure and represents a partial exit from Canadian operations for KMI. Investors should monitor how these transactions impact KMI's future revenue streams, debt levels, and overall strategic direction.

Key Highlights

  • 1KMI completed the sale of the U.S. portion of the Cochin Pipeline to Pembina Pipeline Corporation.
  • 2Kinder Morgan Canada Limited (KML), a KMI subsidiary, has been acquired by Pembina.
  • 3Pembina acquired all outstanding common equity of KML, including KMI's stake.
  • 4The transactions were announced and completed around December 16, 2019.
  • 5The filing includes a press release detailing these transactions.
  • 6David P. Michels, KMI's Vice President and Chief Financial Officer, signed the report.

Frequently Asked Questions

Kinder Morgan announced the completion of two major transactions: the sale of the U.S. portion of its Cochin Pipeline to Pembina Pipeline Corporation, and the acquisition of its subsidiary Kinder Morgan Canada Limited (KML) by Pembina.

The sale of the U.S. portion of the Cochin Pipeline is a strategic divestiture that could help KMI focus on its core assets, reduce complexity, and potentially improve its financial position by generating cash proceeds.

This transaction represents a significant exit for KMI from its Canadian operations through the sale of its subsidiary, KML, to Pembina. It will impact KMI's consolidated financial statements and potentially its geographic footprint.

More detailed information is available in the press release dated December 16, 2019, which is filed as Exhibit 99.1 to this Form 8-K filing.