Shell completes sale of interest to Colossus AcquireCo LLC
Published by Willow Munz,
Editorial Assistant
Hydrocarbon Engineering,
Shell Midstream Operating LLC (SMUS), a subsidiary of Shell plc (Shell), has completed the previously announced sale of its 16.125% interest in Colonial Enterprises Inc. (Colonial) to Colossus AcquireCo LLC, a wholly owned subsidiary of Brookfield Infrastructure Partners L.P. and its institutional partners (collectively, ‘Brookfield’).
The divestment reflects Shell's focus on performance, discipline and simplification and enables the company to concentrate on areas where it has scale and competitive advantage.
Together with Shell, the co-owners of Colonial Enterprises Inc. have sold 100% of their Colonial shares to Brookfield. Colonial was previously divided among five partners: Shell Midstream Operating LLC (16.125%), Koch Capital Investments Company LLC (28.088%), KKR-Keats Pipeline Investors L.P. (23.443%), La Caisse (16.549%), and IFM Investors (IFM) (15.795%).
The sale values Shell's share of Colonial at US$1.45 billion, inclusive of approximately US$500 million in non-recourse debt and excluding customary closing adjustments.
Read the article online at: https://www.hydrocarbonengineering.com/refining/01082025/shell-completes-sale-of-interest-to-colossus-acquireco-llc/
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