Tallgrass Energy Partners, LP Closes Purchase of Midstream Assets from Kinder Morgan Energy Partners LP

Kinder Morgan Energy Partners LP announced that Tallgrass Energy Partners, LP has closed the previously announced transaction with the Company to buy Kinder Morgan Interstate Gas Transmission (KMIGT), Trailblazer Pipeline Company, the Casper-Douglas natural gas processing and West Frenchie Draw treating facilities in Wyoming, and KMP`s 50% interest in the Rockies Express Pipeline (REX). Tallgrass acquired these assets for a total cash consideration of approximately $1.8 billion. Including the proportionate amount of REX debt, the purchase price is equivalent to a value of $3.3 billion. Tallgrass is owned by the management team of Tallgrass, Kelso & Company, and a limited group of investors led by The Energy & Minerals Group including Magnetar Capital.