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Stock impact report

Brookfield to buy pipeline owner in $9B deal [BNN Bloomberg (Canada)]

KKR & Co. Inc. (KKR) 
Last kkr & co. inc. earnings: 1/31 06:50 am Check Earnings Report
US:NYSE Investor Relations: ir.kkr.com
Company Research Source: BNN Bloomberg
Colonial's five owners are selling their entire stakes to Brookfield, including a Shell plc unit that will transfer its 16.125% interest for $1.45 billion, according to a statement Friday. The deal comes as U.S. President Donald Trump seeks to expand domestic energy infrastructure. However, building new oil and natural gas pipelines in the U.S. faces significant regulatory and permitting barriers, making existing assets valuable. Bloomberg News reported in March that Brookfield was emerging as the lead contender to acquire Colonial. The Colonial Pipeline runs for 8,850 kilometers (5,500 miles) from Texas to New Jersey, and is the main source of gasoline, diesel and jet fuel for the East Coast. It was shut down for five days in 2021 after a cyberattack, leading to fuel shortages across the region. Shell's Midstream Operating unit will sell its stake to a Brookfield unit called Colossus AcquireCo. Colonial's other owners comprise the industrial conglomerate Koch Inc., with 28.1%, Show less Read more
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