for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Kinder Morgan sells Pembina shares for $764 million

FILE PHOTO: Kinder Morgan North 40 facility in Sherwood Park, Alberta, Canada August 21, 2019. REUTERS/Candace Elliott

(Reuters) - Pipeline operator Kinder Morgan Inc KMI.N said on Thursday it sold the 25 million shares in Canada's Pembina Pipeline Corp PPL.TO that it received when Pembina bought Kinder Morgan Canada for $764 million.

Kinder Morgan said it will use the proceeds to cut its debt.

Canada’s Pembina Pipeline had agreed to buy Kinder Morgan Canada and the U.S. portion of the Cochin pipeline for C$4.35 billion ($3.28 billion) in August.

Reporting by Shradha Singh in Bengaluru; Editing by Amy Caren Daniel

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up