Berkshire Hathaway Is Buying Dominion Energy's Gas Transmission Business for $9.7 Billion
Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) has agreed to acquire the natural gas transmission and storage assets of Dominion Energy (NYSE: D). The all-cash deal values the assets at $9.7 billion and includes the assumption of $5.7 billion in debt.
Berkshire Hathaway will acquire more than 7,700 miles of natural gas pipelines from Dominion, including its 100% interest in Dominion Energy Transmission, the Questar Pipeline, and Carolina Gas Transmission, as well as its 50% stake in the Iroquois Gas Transmission System. Berkshire will also purchase 900 billion cubic feet of natural gas storage assets from Dominion as well as a 25% stake in the Cove Point LNG facility, which is one of six currently operating LNG export terminals in the country.
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Source Fool.com
