Shell Sells Interest In Colonial Enterprises

2025-04-04 02:07:43

(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 4. Shell Midstream Operating LLC, a subsidiary of Shell plc, has agreed to sell its 16.125% stake in Colonial Enterprises, Inc. to Colossus AcquireCo LLC, a subsidiary of Brookfield Infrastructure Partners and its institutional partners, for $1.45 billion, Trend reports.

The transaction, subject to regulatory approvals, is expected to close in the fourth quarter of 2025.

The sale is part of Shell's strategy to streamline its portfolio and focus on areas where it holds a competitive advantage, according to Andrew Smith, President of Shell Trading & Supply.

The deal is part of a broader agreement in which all co-owners of Colonial Enterprises will sell their stakes to Brookfield. Colonial owns Colonial Pipeline Company, which transports oil products from the U.S. Gulf Coast to the Atlantic Seaboard.

Shell Midstream Operating LLC is an indirect subsidiary of Shell Pipeline Company LP, the largest pipeline operator in the Gulf of America, managing an extensive network that transports 1.5 billion barrels of crude oil and refined products annually.

MENAFN04042025000187011040ID1109389595

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.