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Billionaire Kinder revamps oil pipeline empire to target rivals

Published Mon, Aug 11, 2014 · 10:00 PM
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[CHICAGO] Houston billionaire Richard Kinder is consolidating his pipeline empire to strengthen it for growth as the US shale drilling boom opens up US$1.5 trillion in potential purchases and expansion projects.

Kinder Morgan plans to acquire all of Kinder Morgan Energy Partners, Kinder Morgan Management and El Paso Pipeline Partners in a series of transactions valued at about US$44 billion, according to a statement on Sunday.

The move by Mr Kinder, who controls the entities through his 24 per cent stake in the parent company, runs counter to the industry trend of spinning off pipelines and oil te…

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