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Bloomberg
Pipeline giant Kinder Morgan Inc is weighing a sale of the largest transporter of carbon dioxide in North America, which could fetch more than $5 billion, according to people familiar with the matter. Its shares rose on the news.
The Houston-based company is working with advisers to seek buyers for its CO2 business, said the people, who asked to not be identified because the matter isn’t public. No final decision has been made and Kinder Morgan could opt to keep the segment, they said.
Its shares reversed losses to climb 2 percent to $17.81 in New York trading, giving the company a market value of about $39.3 billion. A representative for Kinder Morgan declined to comment. The potential sale comes as Kinder Morgan considers paring other parts of its massive network of terminals, pipelines and other infrastructure that handles natural gas and petroleum products. Kinder Morgan sold the Trans Mountain oil pipeline for $3.5 billion last year and is in the process of a strategic review for affiliate Kinder Morgan Canada Ltd. that could lead to an outright sale or merger with Kinder Morgan Inc, among other options.