Several listed infrastructure companies announced notable news in the past week. Pembina Pipeline Corp. and KKR have formed a new joint venture, Cellnext Telecom has acquired telecom infrastructure sites from CK Hutchinson, and a partnership between Ocean Winds and Global Infrastructure Partners has won a 289 km² lease area off the coast of New York and New Jersey.
Pembina Pipeline Corp. and KKR have agreed to a joint venture that combines their western Canadian natural-gas processing assets into a single, new entity (Newco). Pembia will own 60 percent of Newco and KKR’s global infrastructure funds will own 40 percent. Pembina will serve as the operator and manager of Newco. The transaction includes Pembina’s field-based natural gas-processing assets, the Veresen Midstream business (now owned 55 percent by funds managed by KKR and 45 percent by Pembina), and Energy Transfer Canada (ETC), now owned 49 percent by funds managed by KKR. Newco also will acquire Energy Transfe
