Simpson Thacher is representing KKR in its entry into a definitive agreement to sell its 23.4% interest in Colonial Pipeline to Brookfield Infrastructure Partners. KKR is selling alongside affiliates of Caisse de dépôt et placement du Québec, Shell, Koch Industries and IFM Investors in a deal valued at about $9 billion. The transaction is expected to close in the second half of 2025 and is subject to customary closing conditions.
Colonial's pipeline system stretches over 5,500 miles from Houston in Texas to New York's harbor. It moves 100 million gallons of fuel daily, including gasoline, jet fuel, diesel and heating oil.
The Simpson Thacher team includes Shamus Crosby, Breen Haire, Ana Sanchez, Andrew Kingsbury and Arthur Kopilevich (M&A); Nancy Mehlman and Lina Pan (Tax); David Rubinsky and Pasco Struhs (Executive Compensation and Employee Benefits); Krista McManus (Real Estate); Lori Lesser and Christina Breitbeil (IP); and Toby Chun and Noreen Lavan (Environmental).