Veresen has entered into an agreement to acquire Global Infrastructure Partners’ 50% convertible preferred interest in the Ruby pipeline system for USD 1.425 billion. The acquisition will be made through a wholly owned subsidiary of Veresen. Ruby is a newly built, large-scale natural gas transmission system delivering US Rocky Mountain region natural gas production to markets in the western United States. El Paso Pipeline Partners, an affiliate of Kinder Morgan, holds the remaining 50% ownership interest in Ruby through a common equity interest. The transaction is expected to close in the fourth quarter of 2014.
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