An undisclosed buyer acquired 25.5% stake in Elba Liquefaction Company, LLC from Kinder Morgan, Inc. (NYSE:KMI) for approximately $560 million on September 26, 2022. The consideration is subject to customary purchase price adjustments to reflect an economic effective date of July 1, 2022. Upon closing, KMI and the undisclosed financial buyer will each hold a 25.5% interest and Blackstone Credit will continue to hold a 49% interest in ELC. The proceeds will reduce short-term debt and create additional capacity for attractive investments, including opportunistic share repurchases. Bracewell LLP served as legal advisor to KMI for this transaction. RBC Capital Markets acted as financial advisor to the undisclosed buyer.

An undisclosed buyer completed the acquisition of 25.5% stake in Elba Liquefaction Company, LLC from Kinder Morgan, Inc. (NYSE:KMI) on September 26, 2022.