India, April 23 -- 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 mark...