Kinder Morgan in $22 Billion MBO
August 28, 2006
Cleary Gottlieb is advising Goldman, Sachs & Co., as financial advisor to the management-led group buying out Kinder Morgan. Kinder Morgan’s CEO, Richard D. Kinder, together with other members of management, co-founder Bill Morgan, current board members Fayez Sarofim and Mike Morgan, and investment partners Goldman Sachs Capital Partners, The Carlyle Group, Riverstone Holdings LLC, and funds managed by AIG signed an agreement to acquire Kinder Morgan in an acquisition valued at approximately $22 billion, including the assumption of approximately $7 billion of debt. The acquisition is expected to close in 2007 following regulatory and stockholder approvals.
Kinder Morgan is one of the largest energy transportation, storage and distribution companies in North America.