Brussfield to buy the colonial pipeline for about $ 9 billion, including debt

(Reuters) -The company said on Thursday that Brookfield is buying BROKFILD infrastructure for the colonial pipeline, the largest fuel transport system in the United States, in a deal worth about $ 9 billion, including debt, the company said on Thursday.

The deal to obtain all the assets of colonial institutions, including the colonial pipeline, will be closed in the second half of 2025.

Colonial pipeline system extends more than 5500 miles from Houston in Texas to New York Port. 100 million gallons of fuel move daily, including gasoline, jet fuel, diesel and heating oil, according to its website.

The infrastructure company listed in Brucefield Asset Management will get $ 500 million in colonial institutions when the deal is closed.

Shell said late on Thursday that she was selling her attention to the colonial institutions of the Colossus Accireco, a company belonging to Brookfield, for $ 1.45 billion.

The owners of the colony – including the Canadian pension fund Caisse de Dépôt et place du québec (CDPQ), Shell and CKR – began to explore the sale of the colonial pipeline last year.

CDPQ bought its crochet in Colonial for $ 850 million in 2012 from Conocophillips. IFM Investors and KKR acquired 15.8 % and 23.4 % in 2007 and 2010.

Shell united 16.13 % in one decade in 2019, while Koch Industries has occupied its current location by 28.1 % since 2003.

Reuters said earlier this week that Brookfield emerged as a winner in the auction process, which was the five pipeline owners working for several months, to buy the colonial pipeline for more than $ 9 billion, including debt.

(Participated in the reports of Gnaneshwar Rajan in Bangaluru, edited by Yenan Fenkraman and MRIGNK DHANIWA)