Deals
KKR, Pembina Combine Canadian Gas Assets in $9 Billion Deal
- New venture includes assets currently held by Energy Transfer
- Joint venture will have foothold in northeast British Columbia
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KKR & Co. and Pembina Pipeline Corp. agreed to combine their natural gas processing assets in Western Canada to create a joint venture just months after the Calgary-based company lost out in its attempt to take over rival Inter Pipeline Ltd.
The entity will also acquire certain interests held by U.S. pipeline giant Energy Transfer LP. The total value of the transactions is C$11.4 billion ($9 billion), Pembina said Tuesday in a statement. That sum excludes the value of any assets under construction.