Latest news with #ColonialEnterprises
Axios
04-04-2025
- Business
- Axios
Colonial Pipeline being sold for $9 billion
Brookfield Infrastructure Partners on Friday agreed to acquire the Colonial Pipeline, which stretches 5,500 miles from Houston to New York, for around $9 billion (including debt). Why it matters: Scarcity. There are tons of government hurdles to building new pipelines in the U.S., despite Trump's all-in energy policies, and tariffs could make new construction even more daunting. Zoom in: The deal formally is for the midstream asset portfolio of Colonial Enterprises, which includes Colonial Pipeline. BIP will invest $500 million, or around 15% of the total equity commitment, funded by recycled capital.
Wall Street Journal
04-04-2025
- Business
- Wall Street Journal
Shell to Sell Its Interest in Colonial Enterprises to Brookfield for $1.45 Billion
Shell SHEL -4.05%decrease; red down pointing triangle said it would sell its 16.125% stake in Colonial Enterprises to Brookfield Infrastructure Partners for $1.45 billion as it continues to simplify is portfolio. The British energy major said the sale is subject to regulatory approvals but is expected to complete in the fourth quarter of the year. Shell said the divestment continues to simplify its portfolio and would enable it to refocus on areas where it has scale and competitive advantage. Colonial Enterprises operates and fully owns Colonial Pipeline Company, which provides oil products transportation services from the U.S. Gulf Coast to the U.S. Atlantic Seaboard. It also owns the Colonial Marketing Company. The stake was sold to Colossus AcquireCo, which is a subsidiary of Brookfield Infrastructure Partners BIP -2.15%decrease; red down pointing triangle. Write to Adam Whittaker at
Zawya
04-04-2025
- Business
- Zawya
Brookfield to buy Colonial Pipeline for about $9bln, including debt
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)
Yahoo
04-04-2025
- Business
- Yahoo
Brookfield to buy Colonial Pipeline for about $9 billion, including debt
(Reuters) -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. Sign in to access your portfolio
