El Paso E&P Assets Might Have a Buyer (KMI, EP, APO)
January 18, 2012 by Paul AusickWhen Kinder Morgan Inc. (NYSE: KMI) made its offer to buy El Paso Corp. (NYSE: EP) for $21 billion, the purchase included some assets of El Paso that Kinder Morgan is not particularly interested in. Reuters is reporting that Apollo Global Management LLC (NYSE: APO) and private equity firm Riverstone Holdings are preparing a $7 billion offer for El Paso’s exploration & production assets.
In all, Kinder Morgan is trying to sell off six separate pieces of El Paso and interested buyers have until mid-February to make their intentions known.
Kinder Morgan would especially like to sell the E&P assets because they are both quite valuable in today’s market and quite volatile, not like the nice, stable returns that are generated by pipeline operators.
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.