Global infrastructure investment company Brookfield Infrastructure Partners and its institutional partners have agreed to buy all assets of Colonial Enterprises for approximately USD 9 billion, Brookfield announced on Thursday.
The deal includes Colonial Pipeline, which is the largest refined products system in the USA. The network spans approximately 8,850 kilometres between Texas and New York and carries about 3 million bpd of fuel and refined petroleum products to customers along the US East Coast.
The owners of Colonial Enterprises, which include the Canadian pension fund Caisse de dépôt et placement du Québec, energy major Shell and investment firm KKR, had begun exploring a sale in June 2024.
The transaction is expected to close in the second half of 2025, subject to customary closing conditions.
Source: theenergyyear.com