By Connor Hart
Brookfield Infrastructure Partners will sell its 25% stake in its U.S. gas pipeline, representing a complete exit of the business.
The Canadian investment firm said Friday that over the course of its ownership, it generated total proceeds of over $1.7 billion from the venture. Brookfield will sell its stake to one of the business' existing owners, though it didn't disclose which one.
Terms of the sale weren't disclosed.
Brookfield initially acquired a 27% stake in the pipeline through the purchase of Babcock & Brown Infrastructure. Later, the company in 2015 increased its ownership to 50%, buying out several minority owners in partnership with another operator.
Also on Friday, Brookfield said it has completed the first step in its data-center monetization strategy, signing an agreement to sell a 30% interest in a 244-megawatt portfolio of derisked and operating sites in Europe to a financial sponsor for approximately $460 million.
Chief Executive Sam Pollock said the two deals add to the company's strong start to 2025. "We have now locked in over $700 million in proceeds from asset sales since the beginning of the year," he said.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
March 21, 2025 17:20 ET (21:20 GMT)
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