If completed, the divestment would focus Dominion more intently as a state-regulated “pure-play” utility power provider, according to the company’s statement. The Berkshire Hathaway unit is acquiring more than 7,700 miles of natural gas storage and transmission pipeline and about 900 billion cubic feet of gas storage capacity.
The buyer is assuming $5.7 billion of existing debt and will make a $4 billion cash payment upon closing, according to terms of the deal.
