Spectra Energy (SEP) plans to buy the Express-Platte System pipeline for $1.49B to give it an...

|About: Spectra Energy Partners, LP (SEP)|By:, SA News Editor

Spectra Energy (SEP) plans to buy the Express-Platte System pipeline for $1.49B to give it an edge in transporting crude oil across North America. The transaction should add between three cents and five cents to full-year earnings, according to the company. Kinder Morgan (KMP), one of the current owners of the pipeline, will receive close to $380M in the deal.