Save for later Print Download Share LinkedIn Twitter Pipeline operator Kinder Morgan said Wednesday that it will buy the portion of a pipeline company that it does not already own from a unit of Enron for $68 million in cash. Houston-based Kinder Morgan will own the Trailblazer Pipeline in its entirety after purchasing the additional 33.3% stake from Enron Trailblazer Pipeline. The deal is expected to add immediately to Kinder Morgan's earnings when the deal closes in the first quarter of 2002. The pipeline is currently undergoing a previously announced $58 million expansion. CIG Trailblazer Gas, an affiliate of natural gas and pipeline company El Paso, is helping to fund the expansion. When the additional capacity comes on line in the middle of next year as a result of the expansion, CIG will own 7% to 8% of Trailblazer Pipeline. Kinder Morgan operates the 436-mile natural gas interstate pipeline that runs from Weld County, Colorado, to Gage County, Nebraska. Kinder Morgan first bought a stake in the pipeline company in 1999. It said it has been negotiating with Enron, which filed for Chapter 11 bankruptcy protection earlier this month, to buy this last piece for several months.
