Dominion Energy has provided several updates related to the pending sale of its gas transmission and storage assets to an affiliate of Berkshire Hathaway.
Dominion Energy expects its transaction with Berkshire Hathaway Energy, exclusive of Questar Pipelines, to close around Nov. 1, 2020. As consideration for that transaction, Dominion Energy will receive approximately $2.7 billion in cash and transfer $5.3 billion of existing Dominion Energy Gas Holdings’ (DEGH) related indebtedness to the buyer at closing.
Dominion Energy also expects to complete the sale of Questar Pipelines to Berkshire Hathaway Energy upon receipt of Hart-Scott-Rodino (HSR) clearance in early 2021. As consideration for that transaction, Dominion Energy would receive approximately $1.3 billion in cash and transfer approximately $430 million of existing Questar Pipelines’ indebtedness to the buyer.
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