A consortium led by investment company Apollo Global Management has agreed to acquire the oil and gas exploration and production assets of El Paso Corporation for $7.15 billion.
The deal follows El Paso’s October decision to sell itself to energy company Kinder Morgan for $38 billion (NYLJ, Oct. 20, 2011). That transaction, expected to close in the second quarter, will create the nation’s fourth largest energy company with 80,000 miles of gas pipeline. To offset debt associated with the deal, Kinder Morgan announced it would sell off El Paso’s exploration and production unit.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
