logo
Brookfield to buy Colonial Pipeline for about $9bln, including debt

Brookfield to buy Colonial Pipeline for about $9bln, including debt

Zawya04-04-2025

Brookfield Infrastructure Partners is buying Colonial Pipeline, the largest U.S. fuel transportation system, in a deal valued at about $9 billion, including debt, the company said on Thursday.
The deal to acquire all assets of Colonial Enterprises, including Colonial Pipeline, is expected to close in the second half of 2025.
Colonial's pipeline system stretches over 5,500 miles from Houston in Texas to New York's harbor. It moves 100 million gallons of fuel daily, including gasoline, jet fuel, diesel and heating oil, according to its website.
The flagship listed infrastructure company of Brookfield Asset Management will have an equity investment of $500 million in Colonial Enterprises at the deal's closing.
Shell said late on Thursday it was selling its interest in Colonial Enterprises to Colossus AcquireCo, a Brookfield subsidiary, for $1.45 billion.
Colonial's owners - including Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ), Shell, and investment firm KKR - had begun exploring a sale of Colonial Pipeline last year.
CDPQ bought its stake in Colonial for $850 million in 2012 from ConocoPhillips. IFM Investors and KKR acquired their respective 15.8% and 23.4% holdings in 2007 and 2010.
Shell consolidated its 16.13% into a single holding in 2019, while a subsidiary of Koch Industries has held its current 28.1% position since 2003.
Reuters reported earlier this week that Brookfield emerged as the winner of an auction process, which the five owners of the pipeline have been running over several months, to buy Colonial Pipeline for more than $9 billion including debt.
(Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Janane Venkatraman and Mrigank Dhaniwala)

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Schneider Electric Named Most Sustainable Corporation In Europe
Schneider Electric Named Most Sustainable Corporation In Europe

Channel Post MEA

time16 hours ago

  • Channel Post MEA

Schneider Electric Named Most Sustainable Corporation In Europe

Schneider Electric has been ranked the Most Sustainable Corporation in Europe by Corporate Knights, a Canadian media and research company focused on corporate sustainability performance. This recognition places Schneider Electric at the top of the inaugural Europe 50 ranking, which evaluated over 600 publicly listed European companies across a comprehensive set of sustainability criteria. It follows the company's earlier distinction in January 2025 as the World's Most Sustainable Corporation, also awarded by Corporate Knights as part of their renowned Global 100. Together, these accolades reaffirm Schneider Electric's unwavering commitment to sustainability and its leadership in driving meaningful change across industries and geographies. 'At Schneider Electric, sustainability is not just a priority among others —it is embedded in our purpose and mission,' said Esther Finidori, recently appointed Chief Sustainability Officer at Schneider Electric. 'Being named the Most Sustainable Corporation in Europe is a powerful recognition of our efforts to drive positive impact through innovation, transparency, and collaboration. We are proud to lead by example and remain committed to accelerating our contribution to a more sustainable and inclusive world.' The Europe 50 ranking builds on the same rigorous methodology used for the Global 100, evaluating companies on a wide range of ESG performance indicators such as carbon productivity, clean revenue, board diversity, and sustainability-linked investments. Its scope encompasses constituents of the STOXX Europe 600 Index as well as the top 100 publicly traded companies headquartered in Europe by market capitalization. This dual recognition—both globally and regionally—highlights the positive impact Schneider Electric is making. Through its innovative technologies and solutions, the company supports customers and partners in reducing their environmental footprint, improving energy efficiency, and advancing their sustainability goals.

E1H trains startups for leg up in sports ecosystem
E1H trains startups for leg up in sports ecosystem

Al Etihad

timea day ago

  • Al Etihad

E1H trains startups for leg up in sports ecosystem

11 June 2025 00:18 KUUMAR SHYAM (ABU DHABI)The management company that organises some of the region's biggest sporting events such as the Formula 1 Abu Dhabi Grand Prix, UFC and the NBA games has completed their first cohort of grooming sports-focused the UAE's first dedicated sports ecosystem and incubator, the Ethara 1TW Innovation Hub (E1H) was established to accelerate innovation and entrepreneurship in the UAE and the wider region by providing startups with access to expertise, commerce and the end of a six-week programme, in which eight early-stage ventures received strategic guidance, a Pitch event was held at the Yas Marina Circuit's Conference Centre to provide funding avenues to support and fast-track their eight ventures were an eclectic mix, yet, targeting multi-faceted instance, ParkBuddy is trying to address everyone's pet peeve during major events – finding a parking spot. A couple of initiatives, such as a website ArabsMMA and a podcast-newsletter Mettleset, are trying to spread the word about their niche areas through the communications is a sustainability drive involving recycling waste which is being spearheaded by Green Light are use-cases of artificial intelligence, data and robotics being utilised from organisation to operations either for employee engagement or smoothening workflows in logistical services with companies such as Athlyn, Neoma and Icosium then there is eSportian, which is looking at the future of education and the rising scene of e-sports in the region.'E-Sports is big here and in the MENA region,' said Ivan Kerkoc, the founder and a professor at a Spanish university in Barcelona. 'Yet, when it comes to academics and accompanying scholarships, the choices are limited. There are those who are good at e-sports but need support in their education in countries where e-sports have recognition and established affordable education."And there are some who excel in both areas and would like to come here for playing and job opportunities in gaming companies.'ParkBuddy is focusing only on events in Dubai for now, but the expansion plans are on the anvil. The startup promises dynamic and flexible parking solutions; advanced planning will go a long way to ensuring a smooth experience for motorists.'We work with organisers and authorities such as police at times to have multiple options for every type of situation, however dynamic they may be,' said Daniel Hachem, the founder of mobile app-based solution not only directs consumers to available parking spots and reduces long walks, it can reserve a parking spot for a small only one in the group to get a brand sponsor attached is the pioneering media platform focusing on women in MENA sports, The Mettleset. Led by Dawn Barnable, a Canadian endurance athlete, her upcoming website is trying to bridge the gap between athletes, their stories and sports content where the sportswear company New Balance has already come on board.'Innovation is at the heart of everything we do at Ethara,' said Saif Rashid Al Noaimi, the CEO of Ethara in his address. 'That's why we created E1H with our partners at OneToWatch (1TW). We want to inspire the next generation of entrepreneurs to build new ventures that add value not just to Ethara but to Abu Dhabi's global vision for sport and entertainment.' E1H Cohort 1 startups ArabsMMA – Zahi EphremA marketer and martial artist, Zahi founded ArabsMMA, the first media platform dedicated to combat sports in the Middle – Ahmed OmarWith 15-plus years' experience in the UAE sports and corporate sectors, Omar's platform bridges sport and corporate – Ivan KerkocA Spanish university professor and former NCAA recruiter, Kerkoc founded Esportian to merge traditional sports and esports Technologies – Billel Boudouma and Mohamed AliThis venture blends robotics, artificial intelligence and human experience to deliver real-world micro-automation – Daniel HachemDaniel aims to revolutionise urban mobility through smart parking solutions, drawing on his engineering and entrepreneurial – Francois ChabaudieWith a background in private equity and consulting, Chabaudie created Neoma to improve human interaction through smart Mettleset – Dawn BarnableA seasoned communicator and endurance athlete, Dawn founded The Mettleset to tell meaningful stories through the lens of Light Events – Robert Angelieri An event operations expert, Robert drives innovation in sustainable events through branding, logistics and venue strategy. Source: Aletihad - Abu Dhabi

India's Modi says he's received invitation for G7 summit in Canada
India's Modi says he's received invitation for G7 summit in Canada

ARN News Center

time5 days ago

  • ARN News Center

India's Modi says he's received invitation for G7 summit in Canada

India's Prime Minister Narendra Modi said he looked forward to meeting his Canadian counterpart Mark Carney during the Group of Seven summit, after the latter invited him to the gathering over a phone call on Friday. India is not a part of the grouping but can be invited as a guest to its annual gathering, which will be held this year in Kananaskis in the Canadian province of Alberta, from June 15-17. "Glad to receive a call from Prime Minister (Carney)...thanked him for the invitation to the G7 Summit in Kananaskis later this forward to our meeting at the Summit," Modi said in a post on X. The invitation suggests that both sides want to rebuild ties, which have nosedived in the last two years after Canada accused India of involvement undefined in a Sikh separatist leader's murder, and of attempting to interfere in the country's 2019 and 2021 elections. New Delhi denied both allegations. Modi also stated in his post that India and Canada would work together "with renewed vigour, guided by mutual respect and shared interests". India is Canada's 10th largest trading partner and Canada is the biggest exporter of pulses, including lentils, to India. Ottawa holds the rotational G7 presidency this year.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store