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Brookfield Infrastructure (TSX: BIP.UN) to Acquire Colonial Pipeline for $9 Billion
Image source: Company update
Highlights
Brookfield Infrastructure Partners L.P. (NYSE: BIP, TSX: BIP.UN) and its institutional partners have reached an agreement to acquire Colonial Enterprises, which includes the Colonial Pipeline system, for an enterprise value of approximately $9 billion. Colonial is the largest refined products pipeline system in the United States, spanning about 5,500 miles from Texas to New York. The system plays a critical role in transporting refined products along the U.S. East Coast, with a long history of stable performance and high utilization.
Brookfield's equity investment in the transaction is expected to be $500 million, which represents roughly 15% of the total equity required. This investment will be funded entirely through proceeds from Brookfield's previously announced capital recycling initiatives. The transaction is anticipated to close in the second half of 2025, subject to customary closing conditions and regulatory approvals.
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