Enbridge and KKR Announce New Joint Venture to Support Investment in the Westcoast Pipeline System in BC
KKR and Apollo are investing C$2.7 billion in a joint venture with Enbridge to fund the Aspen Point and Sunrise expansion programs on the Westcoast natural gas pipeline system. In exchange for the investment, the JV will acquire a 29% interest in the pipeline system, while Enbridge retains majority ownership and operational control and receives C$0.7 billion in cash at closing.
Key figures
- Jv interest
- 29%
- Cash at closing
- C$0.7 billion
- Investment value
- C$2.7 billion
- Enbridge recycling proceeds
- C$19 billion
AI analysis
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