Houston billionaire Richard Kinder's strategy will open up $1.5 trillion in potential purchases and expansion projects.
August 11, 2014 at 08:00 AM
1 minute read
Houston billionaire Richard Kinder is consolidating his pipeline empire to strengthen it for growth as the U.S. shale drilling boom opens up $1.5 trillion in potential purchases and expansion projects.
Kinder Morgan Inc. plans to acquire all of Kinder Morgan Energy Partners LP, Kinder Morgan Management LLC and El Paso Pipeline Partners LP in a series of transactions valued at about $44 billion, according to a statement Sunday.
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