NEW YORK, Jan 22 (Reuters) - Energy infrastructure company Kinder Morgan Inc will back the acquisition of Hiland Partners with a $2.025 billion bridge loan, Kinder Morgan said in a press release.
UBS is providing the bridge loan
Kinder Morgan is buying Hiland, a pipeline and logistics company, from founder Harold Hamm and Hamm family trusts for $3 billion, including debt.
Hiland builds and operates oil gathering and transportation pipelines and natural gas gathering and processing systems primarily in the Bakken shale oilfields in North Dakota and Montana. Hiland’s customers include Continental and Hess Corp. (Editing By Michelle Sierra and Jon Methven)