Colonial Pipeline owners weighing stake sale at valuation of over $10bn [Yahoo! Finance]
ConocoPhillips (COP)
Last conocophillips earnings: 4/30 07:00 am
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Source: Yahoo! Finance
This development comes as energy consumption in the US continues to grow, increasing demand for pipeline infrastructure. The potential sale would also serve as a valuation test for Colonial Pipeline, which suffered a significant cyberattack in 2021 that disrupted its operations. Caisse de dépôt et placement du Québec (CDPQ), a Canadian pension fund, has initiated the sale of its 16.6% holding in Colonial, the sources said. Furthermore, co-owners Shell (16.13%), IFM Investors (15.8%) and KKR (23.4%) are also deliberating on the potential sale of their shares, the sources said. Infrastructure funds, public pension funds and sovereign wealth funds are considered likely buyers. A unit of Koch Industries, another co-owner, intends to retain its 28.1% stake, according to a source. Discussions about the sale are in the early stages, and according to sources, there is no guarantee that a transaction will occur. Colonial directed Reuters ' inquiries to its owners. CDPQ and KKR o
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- 5/2/24 - Beat
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- 6/25/24 - Form S-4
- 6/4/24 - Form 4
- COP's page on the SEC website