Brookfield to Buy Colonial Pipeline Owner in $9 Billion Deal (2)

A group of investors led by Brookfield Infrastructure Partners LP agreed to acquire Colonial Enterprises Inc. in a deal that values the operator of the biggest US fuel pipeline at about $9 billion.

Colonial’s five owners are selling their entire stakes to Brookfield, including a Shell plc unit that will transfer its roughly 16% interest for $1.45 billion, according to a statement Friday.

Colonial Pipeline operates one of the most important fuel conduits in the US, hauling more than 100 million gallons (2.5 million barrels) of fuel a day from Gulf Coast refineries to the Northeast. It was shut down ...