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Kinder Morgan and Brookfield Infrastructure Partners announced the sale of a 25% minority interest in Natural Gas Pipeline Company of America (NGPL) to ArcLight Capital for $830 million. This transaction values NGPL at approximately $5.2 billion, representing 11.2 times its 2020 EBITDA. Post-sale, both KMI and Brookfield will each hold a 37.5% interest in NGPL, which plays a significant role in transporting natural gas to the Chicago market and LNG export facilities. The deal is expected to close in Q1 2021.
