GATX CORP. COMPLETES SALE OF DOMESTIC, EUROPEAN TERMINAL OPERATIONS

GATX CORP. COMPLETES SALE OF DOMESTIC, EUROPEAN TERMINAL OPERATIONS

   GATX Corp. said Thursday it completed the sale of the majority of GATX Terminal Corp.'s domestic operations to Kinder Morgan Energy Partners L.P., and has closed sales of the majority of GATX Terminals' European operations.

   The purchase price for GATX Terminals' total domestic operations was $1.15 billion, including about $1.0 billion in cash plus the assumption of external debt and certain liabilities.

   Kinder Morgan's purchase closed Thursday comprises GATX Terminals' domestic terminal operations and the Central Florida Pipeline Co. Sale of the CalNev Pipeline will follow upon receipt of certain regulatory approvals.

   GATX Corp. said it has completed the sale of GATX Terminals Antwerpen N.V., an Antwerp-based terminal operation, to Oiltanking GmbH. The company also sold its 50-percent interest in Terminales Portuarieas SA to its partner, Petrofrance Chemie S.A. Total gross proceeds from the sale of the European network will approach $100 million.

   Following the closing of these sales, Chicago-based GATX said it will focus on the sale of its Asian operations.