Brookfield Infrastructure Partners (BIP) has agreed to sell its entire 25% stake in NGPL Holdings to funds controlled by ArcLight Capital Partners, according to a statement by NGPL PipeCo on Friday.
Kinder Morgan (KMI) will continue operating NGPL's pipeline assets and maintain its 37.5% interest in NGPL Holdings, while ArcLight's total interest in NGPL Holdings will increase to 62.5%, the company said.
The deal is expected to close in Q2, it added.
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