KKR and AIMCo to acquire a 65% stake in Coastal GasLink Pipeline Project from TC Energy.

KKR and AIMCo, an investment management company, agreed to acquire a 65% stake in Coastal GasLink Pipeline Project from TC Energy. Financial terms were not disclosed. Coastal GasLink involves the estimated $5bn construction of 670km of natural gas pipeline and associated facilities. “We are excited to partner with TC Energy, a world class infrastructure developer, on this critical project. Coastal GasLink represents our third investment in infrastructure supporting Canada’s natural gas industry. We believe the export of Canadian natural gas to global markets will deliver significant benefits for the Canadian economy and local communities in Western Canada, and enable meaningful progress toward reducing global emissions,” Brandon Freiman, KKR Member and Head of North American Infrastructure.