Kinder Morgan to buy Stagecoach Gas Services for $1.23 bln

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Kinder Morgan Inc (KMI.N) said on Tuesday it has agreed to buy Stagecoach Gas Services LLC for $1.23 billion as the pipeline operator looks to expand into the northeast U.S. market.

The deal, expected to close in the third quarter, will give Kinder access to Stagecoach's four natural gas storage facilities and three pipelines serving the northeast market.

Stagecoach has 185 miles of natural gas pipelines with multiple interconnects to major interstate natural gas pipelines, including Kinder Morgan's unit Tennessee Gas Pipeline.Our Standards:Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.

 

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