October 3, 2008
El Paso Pipeline Acquires Additional Interest in CIG
El Paso Pipeline Partners has acquired an additional 30% interest in Colorado Interstate Gas Company and an additional 15% interest in Southern Natural Gas Company from El Paso Corporation for $736 million.
El Paso Pipeline Partners now owns a 40% interest in the Colorado Interstate Gas Company (CIG) and a 25% interest in the Southern Natural Gas Company (SNG). The transaction was financed with $250 million of debt, and the issuance of approximately 27.8 million common units.