[ad_1]
Kinder Morgan says the $ 4.5 billion transaction for the sale of Trans Mountain pipeline badets to the federal government is progressing well.
"We are currently focusing on the closing of this transaction and this process is going well." Morgan CEO Steven Kean reached an agreement with the Trudeau government at the end of May to sell the company. Trans Mountain pipeline from the Edmonton area to the Vancouver area, as well as the controversial Kinder Morgan expansion project expects the transaction to be completed by the end of the third quarter or early in the fourth quarter of this year, subject to shareholder and regulatory approval, while the federal government announced it expects it to close in August .
Pending sale of pipeline contributed to lower net earnings of Kinder Morgan Canada, which was $ 13.7 million in the second quarter compared to the company reported net income was was reduced primarily due to in-kind cancellation of capitalized credit facility fees, which were replaced by temporary credit facilities due to the pending sale. [19659002Lerevenunandforvariouswealthparentshadfiledfrom$18millionfrom$42millionpershareorfractionalshareforthesameperiodlastyear(19659002)Totalincomeforthequarterwas$178millionforthequartercomparedwith$1687millionforthesamequarterlastyear
Source link
