OTTAWA (dpa-AFX) - Apollo Global Management, Inc.(APO) said on Thursday that Apollo-managed funds have agreed to buy a 40% stake in Pembina Gas Infrastructure Inc., a Canadian gas processor, from the funds managed by KKR & Co. Inc.(KKR).
The transaction is anticipated to be completed by the end of the second quarter of 2026. Post transaction, Pembina Pipeline Corporation (PBA, PPL.TO, PPL-PFA.TO), which operates and manages Pembina Gas facilities, will maintain its 60% stake in the company, and the existing governance structure will remain unchanged.
Scott Browning, Partner at Apollo, said: 'PGI is a premier Canadian platform strategically situated at the inlet of the Global Industrial Renaissance, with assets supporting industrial end markets that underpin the energy security of North American economies. We see a compelling opportunity to grow the business alongside these tailwinds.'
Since its formation as a joint venture between Pembina and KKR in 2022, Pembina Gas has a combined processing capacity of around five billion cubic feet per day.
Pembina Gas currently operates 23 gas processing plants, around 3,900 kilometers of gathering pipelines and approximately 330,000 barrels per day of NGL extraction capacity.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
