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Kinder Morgan Energy buys Blackstone tanker companies

Dec 23, 2013 - The Deal Pipeline
Mergers and Acquisitions

In a move to beef up its shipping presence, Houston's Kinder Morgan Energy Partners LP announced Monday, Dec. 23, that it had acquired a pair of tanker companies from affiliates of Blackstone Group LP and Cerberus Capital Management LP for $962 million.

The deal, which is to be paid in cash, is for American Petroleum Tankers and State Class Tankers, two portfolio companies of the private equity firms started to house tanker assets. Cerberus held a minority stake in the APT venture, accordi...