Apollo (NYSE: APO) has announced that Apollo-managed funds have agreed to acquire a 40% stake in Pembina Gas Infrastructure Inc., a premier gas processing entity in Western Canada, from funds managed by KKR. Pembina Pipeline Corporation (TSX: PPL; NYSE: PBA), which operates and manages PGI’s facilities, will maintain its 60% stake in the company and the existing governance structure will remain unchanged upon closing.
Latham & Watkins LLP represented the financing sources supporting the transaction with a team led by partners Jesse Sheff, Erika Weinberg, Alfred Xue, and Jason Bosworth and counsel Katherine Page, with associate Ed Prevost.
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