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    Home»Deals & Transactions»Pembina, KKR combine Canadian gas assets in $11.4B deal
    Deals & Transactions

    Pembina, KKR combine Canadian gas assets in $11.4B deal

    March 2, 20221 Min Read
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    NEW YORK, NY - JANUARY 12: Henry Kravis, billionaire businessman and co-founder of Kohlberg Kravis Roberts & Co., arrives at Trump Tower, January 12, 2017 in New York City. Trump and his transition team are continuing the process of filling cabinet and other high level positions for the new administration. Drew Angerer/Getty Images/AFP == FOR NEWSPAPERS, INTERNET, TELCOS & TELEVISION USE ONLY ==
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    KKR & Co. and Pembina Pipeline Corp. agreed to combine their natural gas processing assets in Western Canada to create a new joint venture.

    The entity will also acquire certain interests held by Energy Transfer LP. The total value of the transactions totals $11.4 billion (US$9 billion), the companies said Tuesday in a statement. That sum excludes the value of any assets under construction.

    The combined company, dubbed “Newco” for now, will have a foothold in northeast British Columbia, a basin with significant gas reserves. Although there’s no operational export terminal for liquefied natural gas in the province, several projects have been proposed to supply a growing global market for the fuel.

    Read more: BNN Bloomberg

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