Market Chatter: KKR, Shell Reportedly Considering Divesting Colonial Pipeline Stakes at Over $10 Billion Company Valuation

MT Newswires Live06-18

KKR (KKR), Shell (SHEL), and IFM Investors are reportedly exploring selling their stakes in the Colonial Pipeline, which amount to about 55.3% collectively, at over $10 billion company valuation, while Canadian pension fund Caisse de depot et placement du Quebec, or CDPQ has already started the sale process for its 16.6% stake in Colonial, Reuters reported late Monday, citing unnamed people familiar with the matter.

IFM and KKR respectively own 15.8% and 23.4% shares of Colonial. Shell consolidated its 16.13% stake into a single holding in 2019. CDPQ purchased its equity in Colonial for $850 million in 2012 from ConocoPhillips (COP). One of the sources said Koch Industries, which has maintained its 28.1% stake since 2003, does not plan a divesture.

The sources said potential buyers include infrastructure funds, public pension funds and sovereign wealth funds, but added no transaction is guaranteed.

The KKR and Shell did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 111.00, Change: +0.83, Percent Change: +0.75

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