Energy Transfer said it’s selling its 51% stake in Energy Transfer Canada to a joint venture in a deal valued at $1.3 billion, including debt and preferred...
Energy Transfer's stake in a Calgary-based company is part of the KKR-Pembina joint venture.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 Dallas-based Energy Transfer LP. The total value of the transactions totals $9 billion, the companies said Tuesday in a statement. That sum excludes the value of any assets under construction.in Energy Transfer Canada to a joint venture in a deal valued at $1.3 billion, including debt and preferred equity. Energy Transfer expects to net $270 million when the deal closes later this year.
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.
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