El Paso Pipeline Acquires Remaining 14% Interest In Colorado Interstate Gas (EP)

El Paso Pipeline (NYSE:EP) announced it would acquire the remaining 14% interest in Colorado Interstate Gas and all of Cheyenne Plains Investment, which owns Cheyenne Plains Gas Pipeline from El Paso Corp for $635 million and assume about $242 million in debt. El Paso Corporation operates natural gas pipeline and storage facilities, transports natural gas, and imports liquefied natural gas. El Paso also explores for and produces natural gas. The Company has operations in the United States, Brazil, and Egypt. SmarTrend is bullish on shares of El Paso and our subscribers were alerted to buy on October 10, 2011 at $18.98. The stock has risen 51.6% since the alert was issued.

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