From Yahoo Finance: 2025-03-24 12:57:00

Brookfield Infrastructure Partners will sell its 25% stake in NGPL Holdings to ArcLight Capital Partners, giving ArcLight a 62.5% stake. Kinder Morgan will retain a 37.5% stake. The deal is expected to close in Q2 2025, marking Brookfield’s complete exit, generating over $1.7bn and an 18% IRR.

Initially acquiring a 27% stake in NGPL, Brookfield increased ownership to 50% in 2015. ArcLight Capital Partners acquired an additional 12.5% stake in June 2023, bringing its total stake to 37.5%. Kinder Morgan holds the remaining 37.5% stake in NGPL Holdings.

Brookfield Infrastructure enlisted CIBC Capital Markets and RBC Capital Markets as financial advisors and Vinson & Elkins as legal advisor for the latest transaction. NGPL is a subsidiary of NGPL Holdings and PipeCo, boasting a vast interstate pipeline system in the US.

NGPL transports natural gas to Chicago and Gulf Coast markets, with over 9,100 miles of pipeline and significant storage capacity. It provides direct access to major natural gas supply basins through interconnections with various pipeline systems, serving as a crucial player in the US energy infrastructure.

Read more: Brookfield Infrastructure Partners agrees to sell remaining stake in NGPL