The Texas energy group said its 1,600-mile North System pipeline that delivers natural gas liquids and refined petroleum products will be sold for $300 million. The price tag includes Kinder Morgan's 50 percent stake in the Heartland Pipeline Co., which consists of seven propane truck-loading terminals along the North system.
"The North System is a good asset and will be a more strategic fit for ONEOK Partners' natural gas liquids business. In return, KMP receives an attractive price, and we will be able to deploy this capital in areas that are a better strategic fit for us," said Kinder Morgan's chairman Richard Kinder.
The deal is expected to close before the end of the third quarter of this year.
Notable deaths of 2014 [PHOTOS]
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