Apollo Buys KKR's 40% Stake in Pembina Gas Infrastructure
By Adriano Marchese
Apollo Global Management said it would acquire a 40% stake in gas-processing company Pembina Gas Infrastructure from funds managed by investment firm KKR for an undisclosed sum.
Apollo Global, through its managed funds, has agreed to acquire a minority stake in Pembina Gas Infrastructure, which operates gas-processing operations in Western Canada. The company was originally formed from a joint venture between KKR and Pembina Pipeline, and has grown to be one of the largest gas-processing platforms in the region.
The combined processing capacity is of 5 billion cubic feet a day through its 23 gas-processing plants and nearly 4,000 kilometers of gathering pipelines. The company can also extract about 330,000 barrels a day of natural gas liquids.
Pembina Pipeline, which operates and manages the JV facilities, will maintain its 60% stake in the company and the existing governance structure will stay the same.
While the company didn't disclose any financial details of the deal, the transaction is expected to close by the end of the second quarter.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
April 23, 2026 08:43 ET (12:43 GMT)
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