El Paso Production Assets Ready for Saleto Investment Group Comprised of ApolloGlobal, Riverstone Holdings and AccessIndustries for a Little Over $7 Billion

摘要

El Paso Corp. late last week disclosed it entered intoa definitive agreement to sell its exploration andproduction business, EP Energy Corp., forapproximately $7.15 billion to affiliates of ApolloGlobal Management, LLC and Riverstone Holdings,LLC, who are joined by Access Industries, Inc. andother parties. This deal was contemplated in KinderMorgan, Inc.’s previously announced agreement toacquire El Paso Corp. for roughly $38 billion (cashand debt). The sale of EP Energy is dependentupon completion of the Kinder Morgan-El Pasomerger transaction, which is expected to close in thesecond quarter this year, subject to customaryregulatory approvals. The sale of EP Energy is alsoexpected to close about the same time.