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Chevron Midstream Investments sells 22.44% stake in Colonial Pipeline Company

October 2010

Client(s) Chevron Corporation

Jones Day assisted Chevron Midstream Investments, LLC with the sale of its 23.44% stake in the Colonial Pipeline Company to a Kohlberg Kravis & Roberts & Co. L.P. investment vehicle funded by the National Pension Service of Korea, the fourth largest public pension fund in the world.

The Colonial pipeline system is the largest refined products pipeline in North America, running from the Gulf Coast to customers along the Eastern seaboard of the United States.

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