HOUSTON, Jan. 17 (UPI) -- Kinder Morgan Inc. of Houston will sell its Terasen Water and Utility Services unit for $107 million to a consortium of investors.
That consortium is led by CAI Capital Management Co. and includes the existing management team of Terasen Water and Utility Services.
Terasen provides water, wastewater and utility services primarily in western
Canada. The transaction is expected to close by the end of April 2006.
The $107 sale does not include CustomerWorks LP, a joint venture owned 30 percent by Kinder Morgan and 70 percent by Enbridge Inc.
Kinder Morgan owns about 40,000 miles of natural gas and products pipelines and 150 terminals and has 1.1 million natural gas distribution customers.