(RTTNews) – Dominion Energy, Inc. (D) on Wednesday provided updates related to the pending sale of its gas transmission and storage assets to an affiliate of Berkshire Hathaway Inc. (BRK-A, BRK-B).
Dominion Energy expects its transaction with Berkshire Hathaway Energy, exclusive of Questar Pipelines, to close around November 1, 2020.
As consideration for that transaction, Dominion Energy will receive about $2.7 billion in cash and transfer $5.3 billion of existing Dominion Energy Gas Holdings-related indebtedness to the buyer at closing.
Subsequently, Dominion Energy expects to complete the sale of Questar Pipelines to Berkshire Hathaway Energy in early 2021. As consideration for that transaction, Dominion Energy will receive approximately $1.3 billion in cash and also transfer around $430 million of existing Questar Pipelines indebtedness to the buyer.
The company noted that the aggregate cash consideration and assumption of debt across the two anticipated closings is exactly equivalent to the original transaction