Morgan Stanley fund buys gas co. Southern Star
NEW YORK (AP) — The infrastructure investment arm of Morgan Stanley said Thursday that it now owns all of natural gas provider Southern Star Central Corp. The dollar amount of the deal was undisclosed.
John Veech, a head of investing at the fund, said that "opportunities to invest in the U.S. natural gas pipeline sector are scarce."
Morgan Stanley's $4 billion infrastructure fund first took a 40 percent stake in the natural gas provider in March 2010.
Southern Star, based in Owensboro, Ky., provides and stores gas for cities in the Midwest, including Oklahoma City and St. Louis, as well as for power generation facilities.
Privately held Southern Star Central Corp. is the parent company of Southern Star Central Gas Pipeline.