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Stock Market & Financial Investment News

News Breaks
August 14, 2014
08:54 EDTKMIKinder Morgan sees saving $20B in income taxes over 14 years from deal, WSJ says
Kinder Morgan (KMI) sees its $44B deal to consolidate its four entities into one creating about $20B in income-tax savings in the next 14 years, with Kinder Morgan spokesman Larry Pierce stating that the tax advantage isn't unique to this deal, reported The Wall Street Journal. "If someone purchases an office building for $100, they would be allowed to deduct $100 in tax depreciation over time. In our case, KMI is buying pipeline and terminal assets instead of a building, but the same principles apply," the Journal quoted Pierce as saying. Reference Link
News For KMI From The Last 14 Days
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February 1, 2016
11:45 EDTKMIKinder Morgan closes acquisition of 15 BP terminals
Kinder Morgan, Inc. (KMI) closed the previously announced plan to acquire 15 refined products terminals from BP Products North America (BP) in a transaction valued at approximately $350M. Kinder Morgan and BP Products North America have also formed a joint venture limited liability company terminal business to own 14 of the acquired assets, which Kinder Morgan will operate and market on the JV's behalf. The fifteenth terminal will be owned and operated solely by KMI. In connection with the transaction, BP has entered into commercial agreements securing long-term storage and throughput capacity from the JV, which will market additional capacity to third-party customers. Kinder Morgan owns a 75% interest in the JV, with BP owning the balance. This investment is included in Kinder Morgan's 2016 capital plan as discussed in its Jan. 27 investor conference, the company noted.

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