The transaction is subject to regulatory approvals and is expected to close in Q4 2025
Shell Midstream Operating (SMUS), a subsidiary of Shell, has agreed to sell its 16.125% interest in Colonial Enterprises (Colonial) to Colossus AcquireCo, a wholly owned subsidiary of Brookfield Infrastructure Partners L.P. and its institutional partners for $1.45 billion.
"This divestment reflects our focus on performance, discipline and simplification," said Andrew Smith, President of Shell Trading & Supply. "It will allow us to concentrate on areas where we have scale and competitive advantage."
The transaction is subject to regulatory approvals and is expected to close in Q4 2025.
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