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KKR KKR.N is exploring a potential sale of its 40% stake in Pembina Gas Infrastructure, with its holding in the Canadian midstream operator expected to be valued at around $7 billion, four people familiar with the matter said on Wednesday.
Pembina Gas Infrastructure was formed in 2022 as a joint venture between the investment firm and Pembina Pipeline Corp PPL.TO, and owns natural gas and natural gas liquids transportation, processing and storage infrastructure in western Canada.
KKR has been working with investment bankers at Scotiabank in recent weeks to solicit potential buyer interest in the stake, said the sources, who cautioned that no sale was guaranteed and spoke on condition of anonymity to discuss confidential information.
KKR and Scotiabank declined comment. Pembina Pipeline did not respond to comment requests.
