Kinder Morgan Sells Stake In Pembina Pipeline - Quick Facts

(RTTNews) - Kinder Morgan, Inc. (KMI) announced Thursday that it has sold all of the about 25 million shares of Pembina Pipeline Corp. (PBA, PPL.TO) it received in connection with Pembina's acquisition of the outstanding common equity of Kinder Morgan Canada Ltd.

The sale of these shares is consistent with KMI's previously announced intention to convert the shares into cash in an opportunistic and non-disruptive manner, and the after-tax proceeds of $764 million are consistent with KMI's 2020 budget.

As previously disclosed, KMI intends to use the proceeds to pay down debt to create balance sheet flexibility in 2020.