GE Energy Financial Services and Alinda Investments Purchase U.S. Retail Natural Gas Division from Kinder Morgan for $710 Million
Milbank Represents Alinda Investments LLC in 50/50 Purchase
LOS ANGELES, April 4, 2007 – GE Energy Financial Services and Alinda Investments LLC have completed the purchase of Kinder Morgan, Inc.’s U.S. retail natural gas division for $710 million plus working capital, it was announced today. The international law firm of Milbank, Tweed, Hadley & McCloy LLP represented Alinda Investments LLC, an affiliate of Alinda Capital Partners LLC, in the 50/50 joint purchase. Lakewood, Colorado-based Kinder Morgan distributes natural gas to more than 260,000 customers in Colorado, Nebraska, Wyoming, and Hermosillo, Mexico through nearly 12,000 miles of pipelines. The transaction has received full regulatory approval.
Edwin F. Feo, co-chair of Milbank’s Global Project Finance Group, who represented Alinda Investments commented, “This transaction marks the entrance of Alinda as a new infrastructure fund into the energy space. We expect to see continuing interest in the energy sector by similar funds” The Milbank team included Mr. Feo , tax partner Simon Friedman, and associate Michael Tardif. Charles Westland, of counsel in New York, completed the team.
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