Kinder Morgan sells pipeline shares for hundreds of millions of dollars

Houston-based Kinder Morgan Inc. (NYSE: KMI) has sold all of the shares of Pembina Pipeline Corp. (NYSE: PBA; TSX: PPL) that it received in deal that was announced in August.

Selling the 25 million shares of Pembina resulted in after-tax proceeds of $764 million, according to a Jan. 9 press release. Kinder Morgan plans to use the proceeds to pay down debt, which will create flexibility in the balance sheet that the company could use to repurchase shares or for other growth projects, Kinder Morgan…

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