Shell to sell interest in Colonial Enterprises Inc. to Brookfield subsidiary

Shell Midstream Operating LLC (SMUS), a subsidiary of Shell plc (“Shell”), has agreed to sell 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”), 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.