The US’ Brookfield Infrastructure Partners has announced that it will acquire 100% of the midstream oil group Colonial Enterprises, in a deal valued at US$9bn including debt. The deal includes…

Investing.com -- Shell has announced it will sell its 16.125% stake in Colonial Enterprises to Brookfield Infrastructure Partners (TSX:BIP_u). The sale is valued at $1.45 billion and is part of Shell’s ongoing effort to simplify its portfolio. The British energy major stated that the sale is still subject to regulatory approvals. However, it is expected to be finalized in the fourth quarter of this year. Shell stated that this divestment is a step in its strategy to simplify its portfolio. This move will allow the company to refocus on areas where it has scale and competitive advantage. Colonial Enterprises is an operator and full owner of the Colonial Pipeline Company. The stake in Colonial Enterprises was sold to Colossus AcquireCo. This company is a subsidiary of Brookfield Infrastructure Partners, which recently saw a 2.15% decrease in its stock value. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.