India, April 3 -- Brookfield Infrastructure Partners L.P. (BIP, BIP_U.TO) announced that the company and its institutional partners agreed to acquire 100% of midstream asset portfolio Colonial Enterprises, which includes the Colonial Pipeline, for an enterprise value of approximately $9 billion.
Colonial is comprised of the largest refined products system in the U.S., spanning approximately 5,500 miles between Texas and New York.
At closing, BIP's equity investment is expected to be $500 million, which represents approximately 15% of the total equity investment, funded entirely by proceeds from recently announced capital recycling initiatives.
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