Alpharetta-based Colonial Pipeline could soon be sold to a Canadian asset management firm, according to a Reuters report.

The news agency reported Monday that Brookfield Asset Management was “putting the final touches on a deal to acquire Colonial Pipeline” for more than $9 billion including debt, citing people familiar with the matter who requested anonymity as the deliberations are confidential.

It’s the outcome of an auction process held over several months, according to Reuters. Bloomberg reported earlier in March that Brookfield was leading the race to acquire Colonial.

Colonial is the nation’s largest pipeline for refined oil products by volume, delivering more than 100 million gallons of fuel a day. It’s a major distributor of fuel from refineries on the Gulf Coast to much of the East Coast of the United States.

Reuters said a deal could be formally announced “in the coming weeks, barring any last-minute snags,” citing the people with knowledge of the matter.

Colonial directed questions from The Atlanta Journal-Constitution to Colonial’s owners.

The company is owned by investment firm KKR, Shell, Koch Capital Investments, IFM Investors and Canadian pension fund CDPQ. KKR, CDPQ and Brookfield declined to comment. Shell, Koch and IFM did not immediately respond to requests for comment.

Colonial was founded in 1962 and operates more than 5,500 miles of pipeline between Texas and New Jersey.

In 2021, a ransomware attack that hit Colonial led to more than a week of fuel shortages on the East Coast, including in Georgia. That shutdown strained supplies and triggered panic buying in Georgia and other states.

A 2016 leak suffered by Colonial in Alabama also caused shortages that frustrated Georgia motorists for days. Colonial built a 500-foot bypass line near Birmingham as a temporary measure to get around the damaged segment of pipe.

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