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The Caisse de dépôt et placement du Québec – $850 Million Pipeline Interest Purchase

November 16, 2011

The Caisse de dépôt et placement du Québec is a financial institution that manages funds primarily for public and private pension and insurance plans. As at December 31, 2010, it held $151.7 billion in net assets. As one of Canada’s leading institutional fund managers, the Caisse invests in major financial markets, private equity and real estate.

Transaction Value: $850 million

Bracewell represented Caisse de Depot et Placement du Quebec in their purchase of 16.55% interest in Colonial Pipeline Company and Colonial Ventures LLC (Colonial) for $850 million. Colonial Pipeline is the largest refined petroleum products pipeline in the United States. It extends more than 8,800 kilometers between the Gulf of Mexico and the Northeastern U.S. and transports the equivalent of 2.3 million barrels per day. Prior to being finalized, the transaction will be subject to a right of first refusal (ROFR) by the shareholders of Colonial Pipeline. Based on the outcome of the ROFR exercise, the Caisse could close the transaction during the first quarter of 2012.