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.
